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Opportunity Zones: Investments & Tax Benefits

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Opportunity Zones, while not commonly known to the public, can serve as excellent investments to the communities they exist within, as well as to entrepreneurs looking for a long-term tax-savings strategy. Many geographical areas with low-income communities are designated as Opportunity Zones, places where certain tax incentives may be provided to those who invest in them and remain for specified periods of time. There are over 8,764 across America.  Why Should I Invest in an Opportunity Zone? Simply put, the tax benefits. In an effort to bring in funding to…

Tax Planning – Concepts and Strategies for Beginners

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If you are already an adult, a part of adulting life is tax planning. You have to deal with taxation whether you like it or not. A significant part of tax planning is analyzing and arranging one’s financial situation to minimize tax liabilities and maximize tax breaks without breaking the law. Here are some tips for tax planning for any stage of life: Understand your tax bracket The tax bracket is the very first thing you need to know, as your bracket will depend on the amount of money you…

A Saving’s Guide for Teens

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You need money; it’s the reality of life. If you want to make some, listen up. Here are 5 easy tips on how to ensure a financially stable future. Hi, I’m Javier Carlos. I am an Arizona-native, small business owner, and active investor. I am in a secure place now with my finances, but they weren’t always that way. Back in eighth grade, upon establishing C West Entertainment, I never thought it would be a sustainable source of income. Here is how it all began: My Backstory Being an irresponsible…

Understanding the Payroll Protection Program

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In the response to the negative economic impact the Coronavirus has had on American business, the federal government implemented the Payroll Protection Program, a $349 billion component of the recent CARES Act to help small businesses through these difficult times. Applying is straightforward, the loan may be forgivable, and the purpose behind it is to help keep one’s employees paid and financially secure.  What is It and How Does It Work? The Payroll Protection Program offers loans to most United States businesses that have 500 or fewer employees, and have…

2020 Tax Season- 6 Things to Remember

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With the 2020 tax deadline of April 15th drawing near, now is a good time to organize essential forms, think about your filing choices, and set yourself up to avoid a last-minute rush to ensure your returns are submitted on time. Here are 6 things to keep in mind to help ensure a smooth and simpler filing: 1. Collect All Documents With Tax Implications Anything that shows earned income, taxes withheld, interest paid, and any type of investment implication are of vital importance in preparing an accurate tax filing. Leaving…

Book Recommendation: Influence: The Psychology of Persuasion by Robert Cialdini, PH.D.

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What if persuasion wasn’t just down to a person’s “natural charisma”? In Robert Cialdini’s book, Influence: The Psychology of Persuasion”, he goes over 6 principles of influence and how to use them. This book focuses on seeing persuasion as a skill rather than a natural attribute, thus making it possible for anyone to learn this skill. The 6 Principles of Influence Reciprocity – Give what you want to receive Consistency – Active, public, and voluntary commitments Social Proof – People rely on and believe others similar to themselves Liking –…

Assessing Business Risk

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As business managers and entrepreneurs we can have much greater control over our outcomes if we properly assess risk.  In a recent read of Keith Cunningham’s The Road Less Stupid he suggests the following: Risks are the following: Something that was not predicted to happen happening Something that was predicted to happen not happening All Risks have 3 moving parts The probability of the risk occurring The cost if it does occur The manageability of controllability of the risk identified Note – When you think about what could go wrong you dramatically…

Book Recommendation: The Road Less Stupid

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Book Recommendation: Road Less Stupid by Keith J. Cunningham   If you were given the option to make a new decision or go back in time and fix a wrong one, which one would save you more money? This book suggests fixing the wrong choice would save you more money. As leaders, we have all made mistakes and will probably continue to make some more. Going forward, instead of focusing on making more right choices maybe we should focus on making less bad ones.      “It turns out that…

The Millionaire Mindset – 5 Skills You Cannot Ignore

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When we are born, we are given a clean slate to start anew. The world is out there for us to learn, grow, and thrive. We have innumerable opportunities to make the best of our lives. Thus, it is possible to become whatever and whoever we want to be; if we want to make millions or even billions, or if want to do social service, or if we want to get into politics to enact good laws and serve the people, any and all of that is possible.  Listed below…

How to Keep Your Team at Work Accountable

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How can you keep your team at work accountable? The responsibility of holding a team accountable is the work of the team manager, irrespective of whether or not the situation causes discomfort. The process of holding a team accountable consists of many variants, including instructions, regular advice, and explorative questions that assist in unlocking the inner ownership of the team. The meaning of accountability can be understood via the two phrases, i.e., to be accountable, which means offering a description of what’s occurring in a specific section; and to hold…