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1021223-00006-00
Jeffery Palmer, ChFC®
Financial Planner
CA Insurance Lic. #0F60729
Cathy Davis
Client Service Specialist
Phone: 828-333-4748
Christina Palmer
Client Service Specialist
Phone: 828-333-4747
christina.palmer@prudential.com
Gaylen Allen
Client Service Specialist
Phone: 828-575-1250
Jaclyn Schmitz
Client Service Specialist
Phone: 828-333-4139
The Palmer Group
603 Alliance Court
Asheville, NC 28806
Phone: 828-687-8818
Fax: 828-687-4482
Website: jeffpalmergroup.com
November/December 2025
Surprise - It's 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 team of advisors to determine which items you should include when preparing your income tax return.
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Jeffrey Palmer is a Financial Planner with, and offers securities and investment advisory services through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with The Palmer Group.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
The Palmer Group 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.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.