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!

stressed over bills. Surprised young woman looking at her financial debts in the kitchen at home wearing orange pullover sitting at dining table.

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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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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