POST CATEGORY : Finance

How Small Businesses Can Avoid Common Tax Filing Mistakes

Tax filing

Key Takeaways

  • Tax compliance is more complex than many small businesses expect and requires ongoing attention.
  • Understanding all applicable taxes helps prevent missed filings and incorrect assumptions.
  • Self-employment and payroll taxes are commonly underestimated and need proactive planning.
  • Late filings can trigger costly penalties that strain already tight cash flow.
  • Consistent recordkeeping and professional guidance make tax season far more manageable.
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Warren Petersen: Senate Bill 1131 and Tax Relief for Arizona Renters

Rental tax relief

Key Takeaways

  • Arizona Senate Bill 1131 eliminates tenant-paid rental taxes starting in 2025, reducing monthly housing costs for renters.
  • The law requires landlords to pass the tax savings directly to tenants by lowering asking rents.
  • The bill was initially vetoed but later revised and passed as part of broader negotiations over Proposition 400.
  • Supporters view the law as needed relief amid rapidly rising rents and growing rent-burdened households.
  • Opponents warn of significant municipal revenue losses and potential cuts to city services.
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Scott Mullady: Key Phases in the Lifecycle of a Qualified Retirement Plan

Qualified retirement plan

Key Takeaways

  • Qualified retirement plans move through defined phases from design and adoption to administration and termination.
  • Proper plan documentation and setup are essential before any contributions begin.
  • Ongoing administration requires fiduciary oversight, accurate recordkeeping, and annual compliance testing.
  • Reporting and disclosure obligations, including Form 5500, are required throughout the plan’s life.
  • Errors can be corrected through IRS programs, and plan termination requires a structured, compliant process.
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Bill Huemmer: Common Mortgage Mistakes and How to Avoid Them

Mortgage mistakes

Key Takeaways

  • Getting pre-approved before house hunting prevents wasted time and strengthens your offer.
  • Comparing multiple mortgage quotes can save thousands over the life of the loan.
  • Your credit profile and new debt decisions have a major impact on approval and pricing.
  • Focusing only on interest rates ignores important costs like closing fees and mortgage insurance.
  • Borrowing less than the maximum approved amount helps maintain long-term financial comfort.
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Fred Arbusto: Practical Strategies for Long-Term Wealth Growth

Wealth growth

Key Takeaways

  • Clear financial goals turn scattered investments into a focused long-term wealth strategy.
  • Diversification reduces risk while balancing growth and stability across market cycles.
  • Consistent saving builds compounding momentum and long-term financial resilience.
  • Tax-efficient planning protects investment gains and improves net returns.
  • Retirement planning transforms accumulated assets into lasting financial security.
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Stuart Hansen: Practical Approaches to Improving Single-Property Investment Performance

Real estate investing

Key Takeaways

  • Successful single-property investing begins with deep market and submarket analysis, not just surface-level data.
  • Optimizing financing and capital structure can materially improve returns and long-term flexibility.
  • Identifying a property’s highest and best use can unlock hidden value through reconfiguration or repositioning.
  • Strategic value-add improvements and disciplined asset management drive higher net operating income.
  • Planning the exit strategy early helps ensure timing, tax outcomes, and buyer demand are aligned for maximum return.
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Gary Begnaud: An Overview of Establishing an Emergency Fund

Emergency fund

Key Takeaways

  • An emergency fund is a dedicated cash reserve for true financial disruptions like job loss, medical bills, or urgent repairs.
  • Most households should aim to save three to six months of essential living expenses, adjusted for income stability and risk.
  • Emergency funds should be kept in liquid, insured accounts such as high-yield savings or money market deposit accounts.
  • Using cash reserves instead of credit cards prevents interest costs and reduces financial stress during a crisis.
  • Beyond covering expenses, an emergency fund provides psychological security and preserves long-term financial plans.
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Douglas Charney: Understanding Permanent Estate And Gift Tax Rules

Calculating tax benefits

Key Takeaways

  • The One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025, permanently extends key provisions of the Tax Cuts and Jobs Act.
  • The federal estate and gift tax exemption remains high and will rise to $15 million per person starting January 1, 2026, with no sunset.
  • The generation-skipping transfer tax exemption is aligned with the estate and gift tax exemption, simplifying multigenerational planning.
  • Top marginal income tax rates and capital gains tax structures from the TCJA are now permanent.
  • The law introduces new planning considerations, including enhanced standard deductions, the repeal of the personal exemption, and the new “Trump Account.”
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Leo Daboub: How Credit Card Transactions Move from Checkout to Funding

Credit card transactions

Key Takeaways

  • Credit card transactions rely on a multi-step process that extends beyond the checkout moment.
  • Authorization, settlement, and funding occur through coordinated systems involving processors, networks, and banks.
  • Payment gateways and processors play distinct roles in data formatting, routing, and risk screening.
  • Issuing banks make approval decisions, while card networks facilitate communication between parties.
  • Understanding transaction flow helps merchants resolve issues and adopt new payment features more effectively.
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Steven Cash Nickerson: How to Build a Diverse Real Estate Investment Portfolio

Real estate investment portfolio

Key Takeaways

  • Diversification in real estate reduces risk by spreading exposure across asset types, regions, and market cycles.
  • Residential properties often provide stability, while commercial assets introduce varied demand dynamics.
  • Geographic diversification helps balance local economic fluctuations and regional downturns.
  • Alternative real estate assets such as healthcare, student housing, and senior living add demographic-driven resilience.
  • Data, professional guidance, and ongoing risk assessment are essential to sustaining long-term portfolio performance.
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