Joe Jaspers photo

Joe Jaspers, CFP®

Vice President, Wealth Management

 

Carolinas Telco Capital Advisors

Located at Carolinas Telco FCU

9813 South Blvd, Suite 101

Charlotte, NC 28273

 

Phone:     704-391-5600

Toll Free: 800-622-5305, ext. 2608

Fax:         704-556-1652

 

Email: joe.jaspers@lpl.com

November/December 2021

Surprise - It's Taxable!

It’s almost that time of year when you and the IRS have to settle up 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 (from lotteries, horse racing, casinos, sports betting, etc.). Some losses are deductible if you itemize.

  • 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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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Carolinas Telco FCU and Carolinas Telco Capital Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Carolinas Telco Capital Advisors, and may also be employees of Carolinas Telco FCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Carolinas Telco FCU or Carolinas Telco Capital Advisors. Securities and insurance offered through LPL or its affiliates are:

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