Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

November/December 2021

Surprise - It's Taxable!

Surprise - Its Taxable

It's almost that time of year when you and the IRS must settle what you owe - or what the government owes you. Before you prepare your tax return, consider whether you'll need to include any of the taxable items listed below.


  • Social Security benefits

  • Unemployment benefits

  • Portion of a scholarship that covers expenses other than tuition, fees, and books (e.g., room and board, travel, etc.)

  • Canceled debt from credit cards, car loans and mortgages (Student loan debt is exempt.)

  • Honors with cash prizes

  • Certain alimony payments

  • Gambling winnings (lotteries, horse racing, casinos, sports betting, etc.) Some losses are deductible.

  • Gifts from an employer that reward an employee for services or help promote the company

  • Found property

  • Bartered property or services in lieu of cash


Consult your tax advisor to determine which items you should include when preparing your income tax return.


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Investment advisory services are offered through Fusion Capital Management, an SEC Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
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