North Star Financial

✨Exciting News from North Star Financial! ✨

Hey friends, family, and valued clients! 👋

Northstar Financial has always been here to help you with:

🔹 Tax Preparation
🔹Business Structure & Startup Guidance
🔹Life Insurance
🔹Wills & Trusts
🔹Notary Services
…and much more!

Now, we’re thrilled to announce that we’ve added CREDIT REPAIR SERVICES! 💳✨

Whether you’re looking to rebuild your credit, improve your score, or take control of your financial future, we’ve got you covered. Our mission is to guide you toward financial freedom every step of the way.

Important Tax Update for Seniors: New $6,000 Deduction Starting in 2025

If you’re 65 or older, the recently enacted One Big Beautiful Bill Act (OBBBA) introduces a new tax benefit:
• $6,000 additional deduction for single filers aged 65+
• $12,000 additional deduction for married couples where both spouses are 65+

This deduction is available whether you take the standard deduction or itemize. It’s effective from the 2025 tax year through 2028.

Eligibility Criteria:
• Income Limits:
• Full deduction available if Modified Adjusted Gross Income (MAGI) is:
• $75,000 or less for single filers
• $150,000 or less for married couples filing jointly
• The deduction phases out at a rate of 6% for every dollar over the income limit, disappearing entirely at:
• $175,000 for single filers
• $250,000 for married couples filing jointly

This deduction can significantly reduce your taxable income, potentially saving you thousands of dollars over the next few years.

For more information and personalized assistance, follow us at North Star Financial.

Does your hire employees that face challenges finding a job? You may be eligible for the Work Opportunity Tax Credit (WOTC). Check out this tax tip where we explain the qualifications for this credit. The credit is available until December 31, 2025.

Get all the details at https://ow.ly/g92C50WTiWv.

The Work Opportunity Tax Credit is available until the end of 2025 | Internal Revenue Service IRS Tax Tip 2025-60, Sept. 4, 2025 — Finding a job can be a challenge and for certain groups, it can be even harder. The Work Opportunity Tax Credit is a federal tax credit available to employers for hiring individual from certain groups who consistently face significant barriers to employment.

The has assessed more than $162 million in penalties over false tax credit claims linked to fraudulent tax advice promoted on social media.

Read the agency’s alert: https://ow.ly/kbSS50WTrjw

Y’all need to go ahead and take that W-4 off EXEMPT right NOW‼️‼️

𝐓𝐡𝐢𝐧𝐤 𝐲𝐨𝐮’𝐫𝐞 𝐜𝐨𝐯𝐞𝐫𝐞𝐝 𝐣𝐮𝐬𝐭 𝐛𝐞𝐜𝐚𝐮𝐬𝐞 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝑳𝒊𝒇𝒆 𝑰𝒏𝒔𝒖𝒓𝒂𝒏𝒄𝒆 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐲𝐨𝐮𝐫 𝐰𝐨𝐫𝐤!? 𝐓𝐡𝐢𝐧𝐤 𝐚𝐠𝐚𝐢𝐧.

Here are the 𝑯𝑨𝑹𝑫 𝑻𝑹𝑼𝑻𝑯𝑺 about employer-provided life insurance that most people don’t realize:

• It usually only covers 1–2x your salary — not nearly
enough if you have a family or long-term obligations.

• You lose it when you leave your job. Whether you
quit, get laid off, or retire, the policy disappears
with your paycheck.

• Coverage over $50,000 may be taxed, and extra
coverage isn’t always guaranteed — especially if
your health isn’t perfect.

• Worst of all? It gives many people a false sense of
security.

𝑫𝒐𝒏’𝒕 𝒘𝒂𝒊𝒕 until it’s too late to find out you’re underinsured.

𝐏𝐫𝐨𝐭𝐞𝐜𝐭 𝐰𝐡𝐚𝐭 𝐦𝐚𝐭𝐭𝐞𝐫𝐬 𝐦𝐨𝐬𝐭!!

Message us if you’d like help figuring out how much life insurance you really need — and how to get coverage you can actually count on.

Even though the filing deadline has passed, tax season isn’t over for many!
If you filed for an extension, you still have until October to e-file your return. We’re here to help every step of the way!

STOP GOING TAX EXEMPT!!!!!!!!!!!!!🙃

It’s official, they are starting to disburse your funds, the best email alert ever. Continue to be patient, yours is coming soon.

Transcripts have updated !