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Nevada Business Council, 400 S. Rampart Boulevard, Las Vegas, NV (2026)

07/20/2023

Talk to your brain

07/20/2023

🌟 Taking the leap from employee to entrepreneur demands immense courage. I've walked that tightrope, trying to negotiate the best terms under someone else's vision. However, after diligent research and deep introspection, I took the bold step to found my own fintech company. Remember: the most significant limitations are often self-imposed. Never say no to your dreams, ambitions, or potential. Your path awaits; all it requires is the audacity to step forward. 💪🚀

07/20/2023

Generating multiple streams of revenue is a crucial aspect of achieving financial security and independence. Relying solely on a single source of income can leave individuals vulnerable to unexpected circumstances such as job loss, economic downturns, or other unforeseen challenges. Here's why having multiple streams of revenue is essential for financial stability:

1. Diversification: Just as diversifying investments reduces risk, diversifying income sources provides a similar benefit. By having multiple streams of revenue, you are not dependent on a single source for your livelihood. If one stream falters, you have alternative income sources to rely on, minimizing the impact of any potential loss.

2. Income Stability: Multiple streams of revenue help create a more stable financial foundation. When one stream may experience fluctuations or temporary setbacks, others can continue to provide income. This stability can help cover necessary expenses, maintain a desired lifestyle, and alleviate financial stress during challenging times.

3. Flexibility and Adaptability: Generating multiple streams of revenue enhances your ability to adapt to changing circumstances. It allows you to explore new opportunities, pivot career paths, or pursue entrepreneurial ventures without being solely dependent on one income source. This flexibility provides a sense of control over your financial future.

4. Growth and Wealth Building: Multiple income streams offer potential for growth and wealth accumulation. With additional revenue sources, you have more capital available for savings, investments, and wealth-building strategies. This can lead to increased financial resources, improved financial well-being, and the ability to achieve long-term financial goals.

5. Risk Mitigation: By spreading your income across various sources, you reduce the risk associated with relying solely on one income stream. Economic downturns, industry-specific changes, or job market fluctuations may have a limited impact on your overall financial situation, as you have diversified income streams to mitigate those risks.

6. Enhanced Financial Freedom: Having multiple streams of revenue can provide a greater sense of financial freedom. It gives you more control over your financial decisions, the ability to save and invest for the future, and the freedom to pursue opportunities or passions without being solely bound by financial constraints.

Building multiple streams of revenue requires effort, creativity, and often a combination of active and passive income sources. It could involve starting a side business, investing in rental properties, creating online courses, participating in affiliate marketing, or exploring other income-generating avenues. It's important to identify opportunities aligned with your skills, interests, and available resources.

While generating multiple streams of revenue offers numerous benefits, it's important to manage them effectively. Balancing time commitments, prioritizing efforts, and maintaining a sustainable work-life balance are key factors to consider.

Remember, the journey to financial security and independence requires patience, continuous learning, and adaptability. By diversifying your income streams, you can navigate economic uncertainties, create stability, and enjoy a greater sense of financial well-being.

07/19/2023

Creating an unshakable amount of self-determination is a deeply personal and multifaceted journey. It involves cultivating a strong sense of purpose and unwavering commitment to achieving your goals. Here are a few key elements that contribute to building such unwavering self-determination:

1. Clarity of purpose: Clearly defining your long-term vision and specific goals provides a sense of direction and fuels your determination. Understand what truly matters to you, align your actions with your values, and establish meaningful objectives.

2. Resilience in the face of adversity: Developing resilience is crucial when facing setbacks and challenges. Embrace failures as learning opportunities, stay adaptable, and persevere through difficulties. Cultivate a positive mindset that embraces growth and uses setbacks as stepping stones toward success.

3. Inner motivation: Nurturing intrinsic motivation ensures that your determination remains steadfast. Identify your personal drive and passions, and remind yourself of the reasons why you embarked on your journey in the first place. Celebrate small wins along the way to maintain momentum.

4. Discipline and focus: Cultivate discipline to consistently work toward your goals. Set clear priorities, create effective routines, and minimize distractions. Break down larger objectives into smaller, achievable tasks, and establish a habit of taking consistent action.

5. Support and accountability: Surround yourself with a supportive network of individuals who believe in your vision and provide encouragement. Seek mentorship, join communities with like-minded individuals, and share your progress to stay accountable.

6. Continuous growth and learning: Embrace a growth mindset and commit to lifelong learning. Seek new knowledge, acquire new skills, and adapt to changing circumstances. Constantly challenge yourself and expand your capabilities.

Remember, self-determination is a journey that requires commitment, perseverance, and continuous self-reflection. It is the unwavering belief in your abilities and the persistent pursuit of your aspirations that ultimately create an unshakable amount of self-determination.

07/18/2023

Learning how to invest is essential to grow wealth, beat inflation, and achieve long-term financial goals. It helps individuals take control of their finances, build passive income streams, and potentially increase their net worth. Investing knowledge provides opportunities for financial independence, security, and a brighter future.

07/18/2023

Financial literacy is crucial for making informed financial decisions. It empowers individuals to manage their money effectively, plan for the future, avoid debt, and invest wisely. Understanding concepts like budgeting, saving, and investing helps build financial stability, independence, and a path to financial success.

02/20/2016

Real Estate Question:
I closed on a fha refinance streamline 30 days ago, I receive my old escrow check, I used the same lender so the loan was transfer to another loan number. But I received a email from the loan processor asking for two more months of bank statement to show the amount I brought to closing was in my account. I understand before or on the day of closing, but why now? Should I care at this point?

NBC Answer: It's very common for an underwriter to make that a "prior to funding condition" because it could possibly get overlooked at funding. They are just crossing their "t's" and dotting their "i's" and I would recommend working with them to tie up those loose ends. They probably did it with the intent of not delaying your closing knowing they could get it during the recission period and someone just forgot.

This is a standard request on FHA streamline with most lenders and it must have been overlooked by the underwriter. You should cooperate and supply the item. Most likely at closing you signed an errors and omissions disclosure which stipulates that you will work with lender to resolve these types of issues if they arise.
-Justin

03/27/2015

QUESTION:
Will I have to pay a penalty tax if I don't have qualifying health insurance?

ANSWER:
It depends. One of the main objectives of the health-care reform law, the Patient Protection and Affordable Care Act (ACA), is to encourage uninsured individuals to obtain health-care coverage. As a result of the ACA, everyone must have qualifying health insurance coverage, qualify for an exemption, or pay a penalty tax. This requirement is generally referred to as the individual insurance or individual shared responsibility mandate.

Health insurance plans that meet the requirements of the ACA generally include employer-sponsored health plans, government health plans, and health insurance purchased through state-based or federal health insurance exchange marketplaces.

Individuals who are exempt from the individual insurance mandate include:

Those who qualify for religious exemptions
Certain noncitizens
Incarcerated individuals
Members of federally recognized American Indian tribes
Those who qualify for a hardship exemption
Individuals may also qualify for an exemption if:

They are uninsured for less than three months
The lowest-priced insurance coverage available to them would cost more than 8% of their income
They are not required to file an income tax return because their income is below a specified threshold
For tax year 2014, the penalty tax equals the greater of 1% of the amount of your household income that exceeds a specific amount (generally, the standard deduction plus personal exemption amounts you're entitled to for the year) or $95 per uninsured adult (half that for uninsured family members under age 18), with a maximum household penalty of $285. In 2015, the percentage rate increases to 2%, the dollar amount per uninsured adult increases to $325, and the maximum household penalty increases to $975.

03/26/2015

QUESTION: I owe a large amount of money to the IRS. Can I pay what I owe in installments?

ANSWER:
Unfortunately, not everyone gets a refund during tax season. If you are in the unenviable position of owing a large amount of money to the IRS, you may be able to pay what you owe through an installment agreement with the IRS.

With an installment agreement, the amount of your payment will be based on how much you owe in unpaid taxes and your ability to pay that amount within the agreement's time frame. Although you are generally allowed up to 72 months to pay, your plan may be for a shorter length of time.

To request an installment agreement, fill out Form 9465, Installment Agreement Request, and attach it to your tax return, or mail it by itself directly to your designated Internal Revenue Service Center. If your balance due is not more than $50,000, you can apply for an installment agreement online at IRS.gov.

The IRS will generally let you know within 30 days after receiving your request whether it is approved or denied (if you apply online, you'll get immediate notification of approval). If the request is approved, the IRS will send you a notice detailing the terms of your agreement. You will also be required to pay a fee of $120 ($52 if you make your payments by direct debit). You can make your payments by check, money order, credit card, payroll deduction, or direct debit from your bank account.

Keep in mind that even if your request for an installment agreement is granted, you will still be charged interest and may be charged a late-payment penalty on any tax not paid by its due date. This interest and any applicable penalties will be charged until the balance you owe to the IRS is paid in full.

It is important to realize that the fees and interest charged by the IRS for an installment agreement can add up. As a result, before you enter into an installment agreement, the IRS suggests that you consider other alternatives, such as getting a bank loan or using available credit on a credit card.

12/23/2014

Let your philosophy of life reflect the way you live.

08/27/2014

You just learned that your credit- and debit-card information was part of a data breach. What should you do?

Now, more than ever, consumers are relying on the convenience of credit and debit cards to make everyday purchases, such as gas and groceries, and to make online purchases. With this convenience, however, comes the risk of having your account information compromised by a data breach.

In recent years, data breaches at major retailers have become commonplace across the United States. Currently, most retailers use the magnetic strips on the backs of credit and debit cards to access account information. Unfortunately, the account information that is held on these magnetic strips is also easily accessed by computer hackers.

While many U.S. banks and financial institutions are in the process of replacing the older magnetic strips with more sophisticated and secure embedded microchips, it will take time for both card issuers and retailers to get up to speed on these latest card security measures.

In the meantime, if you find that your account information is at risk due to a data breach, you should make it a priority to periodically review your credit card and bank account activity. If you typically wait for your monthly statement to arrive in the mail, consider signing up for online access to your accounts--that way you can monitor your accounts as often as needed. If you see suspicious charges or account activity, you should contact your bank or credit-card company as soon as possible.

In most cases, your bank or credit-card company will automatically issue you a new card and card number. If not, request to have new cards and card numbers issued in your name. As an additional precaution, you should also change the PIN associated with the cards.

Whether you will be held liable for the unauthorized charges depends on whether the charges were made to your credit- or debit-card account and how quickly you report them.

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