Month: January 2026
Tax documents checklist: What do you need to file taxes?
Written By Mark Sipos, LFG Tax Director Tax filing season is quickly approaching. You can help achieve a quick, smooth, and accurate tax filing by gathering and organizing all your tax records for your preparer. We have put together a checklist of the most common items required for filing your taxes. Personal and contact information Start by collecting essential personal details, including: Full legal name Social Security number (SSN) or Tax Identification Number (TIN) Date of birth (DOB) Current address (and confirm any changes from their prior address) Phone number Email address A copy of your state’s driver’s license Dependent information For clients who have dependents, you'll need the following details for each dependent: Name SSNs/TINs DOB Relationship (child, elderly dependent, etc.) Income sources Form W-2 Form 1099 (any version) Schedule K-1 Social Security benefits Retirement income Investment income Gig or freelance income Tip income Overtime income – for 2025 you may need a separate reporting document from your employer if not available on your W2 form. Deductions and credits Mortgage interest Property taxes Medical expenses Charitable contributions Education expenses Child care costsOther documents Any available prior-year tax returns if using a new tax preparer Records of estimated payments and their dates Any notices received from the IRS, state, or local agency Identity Protection PIN you may have received from th
AI’s Labor Cost-Cutting Potential
Written by Chad Roope, CFA ® Chief Investment Officer Artificial Intelligence (AI) is transforming our lives and economy in many fundamental ways. AI, and technology overall, are increasingly being deployed to reduce costs and increase productivity, not just to build new products. In this month’s Investment Spotlight, we are highlighting a major component that may be less obvious but highly important in investing: increased corporate profitability through cost-cutting. Commentary from leading companies in 2025 centered around leveraging AI and automation to manage costs to increase profitability. Ric Reider at BlackRock has attempted to quantify the potential impact in dollar terms by examining labor costs alone. According to his research, the numbers could be enormous. Below is an excerpt from the research he recently published1: “Today, labor accounts for roughly 55% of total business-sector costs. If AI and related technologies can reduce labor’s share of corporate costs by even 5% — from 55% to 50% — and if 75% of those savings accrue to corporates and 25% to AI service providers, the present value of those cash flows is enormous. On aggregate, that would generate roughly $1.2 trillion in annual labor cost savings, translating into about $878 billion in incremental after-tax corporate profits each year. The present value of the corporate piece alone is on the order of $82 trillion, with another $27 trillion accruing to AI
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Case studies are intended to illustrate the types of financial issues faced by actual clients. They should not be construed as a testimonial for or endorsement of Lineweaver Wealth Advisors. They do not represent the experience of any advisory client. Each client’s situation is different, and their goals may not always be achieved. Lineweaver Wealth Advisors, LLC, is not engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Tax rules and regulations are subject to change at any time.
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