Filing taxes is a complicated process, due to which several individuals make mistakes while filling out their forms. Though making errors is normal, doing so on a tax form can cost a lot of money. People may miss out on a larger refund and even pay higher taxes, interest, and penalties. Some mistakes may also invite Internal Revenue Service (IRS) audits. Here are some errors one should avoid while filing taxes.

Delayed submission
When one delays the submission of their tax returns, they may have to pay an additional fee. This penalty can rise to 5% of the tax amount due for each month that the tax return paperwork is delayed. The penalty percentage may increase based on how long one takes to file their return. But if an individual does miss the deadline, rather than doing nothing, they can request an extension by filing Form 4868 before the tax-filing deadline to get more time.

Entering the wrong Social Security number
The IRS uses a social security number to verify information obtained from an employee against details provided by the bank, employer, and other establishments. Therefore, adding inaccurate Social Security numbers by accident may interfere with the filing process and lead to the claim getting rejected.

Forgetting the signature
One may have all the details on the form filled correctly but forget to sign the document, which may result in their claim getting rejected. Individuals should ensure they sign the paperwork when they re-submit it for the second time. One should also ensure that a joint filing involves adding the spouse’s signature.

Name errors
Several individuals do not regularly use their legal names on forms, which is why they make errors when filing taxes. One must ensure their form includes the name exactly as it appears on the Social Security cards. They must also update the card if there are any errors in their spelling.

Entering the wrong bank account number
A direct deposit over other means of payment ensures that an individual gets their refund quicker. However, people often make mistakes when feeding in their account details in a hurry to complete the form fast. Doing so may lead to the money being routed to a stranger’s account. While the bank usually reroutes this amount, it will hamper and delay the refund process.

Making entries on the wrong lines
People often put their entries on the wrong line. For example, one may put the tax-free IRA rollover in the space allotted for the taxable IRA distributions. Such errors can hamper the return process and even lead to a claim rejection. Therefore, one must ensure they make each entry in the correct line.

Filing too early
Several individuals file their returns early, which may cause trouble later on. It occurs because institutions and organizations issuing tax forms may sometimes send them late or send a modified version of forms a few weeks after the initial document is issued. These mistakes could affect the entire tax return process. Therefore, one should check all the guidelines for changes before submitting their documentation online.

Those who work in commercial real estate know that the triple net lease or, commonly called, NNN lease is only becoming popular by the day. Despite the popularity, the NNN lease is still frequently misunderstood by many commercial real estate professionals, and of course, the general public. So, let’s better understand the triple net lease, its pros and cons, and look at how to find NNN properties for sales.

What is a triple net lease?

A triple net lease or an NNN lease is a type of lease agreement in which the tenant agrees to pay for all operating expenses associated with a property and the rent cost. Each “N,” or “net” in triple net designates one operating expense category that the tenant is responsible for. The operating expenses of commercial properties include real estate taxes, building insurance, and maintenance.

To understand more clearly, in a single net lease agreement, the tenant agrees to pay for one of the above expenses. Likewise, in a double net lease agreement, the tenant agrees to pay for two of these expenses. So, a triple net lease agreement means that the tenant is responsible for all three property expenses.

NNN lease pros and cons

Pros

A triple net lease can be beneficial for both owners and tenants. As you imagine from the owner’s perspective, the NNN lease looks quite lucrative. The owners are free from incurring any unexpected or inconsistent costs over time. This ensures that their income from the property remains steady.

When you look at the triple net lease from the tenant’s standpoint, the key benefit is that you get the total control of a property without even owning it. This is helpful when you’re buying a franchise of a fast-food brand, as you might want to give the property a complete makeover and make a few other adjustments before you’re ready for business. Also, since the tenants are taking on most of the cost, these properties are available at lower rent rates.

Cons

The tenants mostly bear the downsides associated with triple net lease agreements. Firstly, they take on more expenses, more management, and other responsibilities that come with the NNN lease. Even when the business of the tenants takes a hit, they are still required to pay the same rent cost to the owners. Apart from this, they are also required to pay for weather damage and other repairs.

How to find NNN properties for sale

Finding NNN properties for sale can sometimes be tricky. Many listing platforms do not provide filters that can help you exclusively look for NNN properties and other associated aspects. That said, there exist a few that lets you search for specific properties with NNN leases.

You can explore these below-mentioned platforms to find NNN properties for sale. Some of these will allow you to search properties by asset class, tenant type, and tenant names to help you find a triple net proprietary ideal for you.

• Reonomy
• LoopNet
• CREXi
• Ten-X
• Marcus & Millichap

Credit cards provide financial independence by allowing people to pay for their needs anytime. These cards can assist in maximizing points and rewards for each purchase. The points and coupons can be used for future purchases, resulting in significant savings. With all the benefits, one should remember to handle it cautiously, or one may find themselves in challenging financial situations. Here are ten crucial credit card tips that everyone should keep in mind.

Maintain a low credit utilization ratio
Remember to keep your card’s balance at or below 30% of the available credit. Carrying large balances on all your cards may harm your credit score. Furthermore, your interest expense grows if you carry these large balances from month to month. Therefore, work to maintain the lowest credit usage ratio possible. Making payments earlier in the month, before your billing cycle ends, might help raise one’s credit scores and lower interest costs.

Paying off the entire balance monthly
The best way to avoid unexpected costs is to pay off your entire balance by the end of each billing cycle. These monthly balances carried over to the next billing cycle may result in high-interest charges. When the balance increases, getting out of debt will be more difficult, which could be bad for one’s financial health. Finding a business credit card with a low ongoing annual percentage rate (APR) can help you save money on credit. Cards with low APRs can be ideal if you can manage expenses.

Avoid late payments
While it’s ideal to pay off your entire balance each month, if that isn’t possible, make sure to pay the minimum payment by the due date. Even a delay of a few days can result in you paying late fees to your issuer. Late payments of more than 30 days can affect your credit score. This late payment record will stay on your credit report for around seven years. Set up autopay and phone reminders or schedule early payments to ensure payments are made on time or early. Contact the credit card company and notify them in case of any late payments. In some cases, this can even help you extend your deadline.

Using spending analysis tools
Most issuers offer spending analysis tools that you can use from your online account. For example, you can keep an eye on your spending by selecting a date range, a month, a year, or a specific term. In addition, it presents all your spending information in various categories. These tools can give you a financial overview and warn about areas where you can reduce your spending to improve your situation.

Take advantage of bonus malls and offers
If you frequently make purchases online, see if you can maximize your rewards by utilizing the bonus mall or card-linked offers from your card issuer. Doing this will help you get around 10% rebate on a purchase rather than the usual 1% to 2%. Alternatively, you could get an immediate refund of $5, $10, or more. Some credit card issuers market these choices more aggressively than others. Visit the website or app of your issuer to learn more about the offerings and how you can use them.

Staying away from cash advances
Even though most businesses let you use your card to make purchases or withdraw cash from an ATM, cash advances are significantly more expensive than standard card purchases. Usually, they start at $5; however, some issuers go even higher. Therefore, whether you pay the advance right now or in the next cycle, this will be charged to your transaction immediately. Therefore, frequently withdrawing money with your credit card is not a good idea unless you need cash for a business emergency.

Use balance alerts
Cash payments make you think twice about your spending as money physically disappears from your wallet. However, in the case of card transactions, it’s easy to go overboard with spending. To tackle this, many issuers let users set up balance alerts via SMS, email, or in-app messages to notify them when their preset limit is reached. It helps a person to spend wisely and remain on budget.

Prioritize paying off high-interest credit cards
Credit card debt with high interest rates is considered bad debt and must be removed from the record soon. Planning and establishing a time frame can help you approach this issue strategically. Initially, paying off high-interest debt while only making minimum payments on other debts will help you get back on track.

Check for joining and renewal fees
Most cards have joining and renewal fees. Provide close attention to the fee schedule and only choose a card with reasonable fees compared to the rewards it offers. Some issuers will reverse your fees if you spend more than a certain amount yearly. This perk can help you save money on annual fees.

Using credit cards for just big purchases
Small purchases using credit cards can add up to large sums over time and go unnoticed. Therefore, it is best to use this service for large purchases that you can easily track and pay for at the end to avoid surprises. Using credit cards responsibly can help you build a company credit history, improve your credit scores, and access more credit limits and other financing choices in the future.

Some treatment options like Cibinqo are supported by copay savings cards that patients can use to get prescriptions for as little as $0. Offered by the Dermatology Patient Access program by Pfizer, these credit cards are meant to encourage healthcare savings which may go up to $15,000 per calendar year for Cibinqo.

As the end of the financial year closes in, many people find themselves scrambling to file income tax returns in time this year. The Internal Revenue Service (IRS) issues strict guidelines for ensuring a smooth and quick tax filing process. The last thing you want is a notification from the IRS citing an issue with the income tax return submission. So, here are six mistakes to avoid when filing your income tax return:

Filing returns prematurely
You might receive documentation regarding your current financial status, and this information has to be updated with the IRS. Filing prematurely can result in mistakes like omissions that only delay the processing of returns.

Choosing the wrong form or filing status
The IRS issues several forms for individuals, businesses, commercial establishments, and government entities to file returns. Ensure you choose the correct form and update the filing status on the official website. If there are dependents in the house or you are filing for a joint return, your filing status can vary accordingly.

Making calculation errors
Adding the wrong amount, excluding critical tax breaks, or even making mathematical errors while computing your income tax return are issues that IRS software can detect. However, miscalculating the return can delay the process. If you are unsure, always get expert assistance from a firm that specializes in tax returns.

Adding incorrect details
Avoid spelling mistakes, adding inaccurate details about your social security status, or omitting crucial financial information. Enlist the help of a certified accountant or consider using tax filing software to simplify the process of filling out forms.

Overlooking important updates
The IRS shares regular updates and circulars after the conclusion of any financial year to update citizens about the changes in the tax regime. You should stay informed of all the criteria for successfully filing returns. So, learn about the current tax implications and avenues when claiming deductions.

Not verifying tax returns
With e-filing becoming a preferred way of filing tax returns, you should verify that you have added your digital signature and have authorized filed returns after uploading them to the IRS. This is how the IRS ensures the authenticity of documents. If you prefer physical submissions, sign and get the documents vetted by a financial expert to ensure everything is in order before submitting the returns.

A lot of people get stuck in debt due to many reasons. The interest rates keep adding up, taking a toll on an individual’s financial stability. In such a case, debt settlement can be quite helpful if you wish to settle a large amount. Here is a list of top 10 debt settlement companies that you can consider to help ease the burden off your shoulders.

• National Debt Relief
  National Debt Relief has the most detailed insights on their website that can help you with debt settlement. It talks about the debt qualification, the amount of money you need to pay for enrolments as well as the debt relief services that they offer. The average savings after the fees is around 30%.
• CreditAssociates
  This particular company is known for helping clients with the elimination of debt. They undertake this entire process between twenty-four to thirty-six months. They use enhanced software, and the outstanding expertise of their team to help their clients with great debt negotiation services.
• Pacific Debt Inc
  This is one of the top 10 debt settlement companies that you can consider. You need to have a minimum of $10,000 in debt to avail their services. They offer an affordable monthly program/plan with payment as well as upfront fees. The service fees can vary somewhere between 15% and 20% of the entire debt.
• United Debt Counselors
  If you are looking for an online debt settlement company, then this is a great option. It works specifically for personalized debt settlement. You need to pay about 30% to 40% of your debt to avail the reduction services.
• CuraDebt
  CuraDebt is another company that offers debt settlement services with a great savings average. It offers 40% reduction after fees. You can opt for any of their business debt solutions that they offer. Their reliable customer service also helps with debt-related queries.
• New Era Debt Solutions
  The average debt reduction for this company is about 47%. In this, you can expect the debts to get settled in three years or even less, depending on how the program gets funded. They do not charge any upfront fees.
• Midland Credit Management
  This company is dedicated to helping different customers resolve past debt. They also have varied payment plans and discounts for their clients. You can check their impressive account history, which can be accessed online.
• ZipDebt
  ZipDebt is also a great option to consider. It offers a flat fee, which includes $197 for a basic program and $777 for a premium program. You will end up receiving a lot of materials that can help you bypass the different settlement companies through which you can avoid bankruptcy. Their fees are negotiable and reasonable as well.

Two of the other companies that you can consider while looking to settle your debt are mentioned below. They have a good track record and you can find different offers on both:

• Donaldson Williams
• J.G Wentworth Debt Relief

We hope our list of top 10 debt settlement companies helps you ease your accumulated debt. Consider and choose the best option for yourself. We recommend you to compare the prices and do a thorough research before you settle on one company.

Veterans or those on active duty can avail of VA loans for any financing purposes. The federal government guarantees these loans. However, to get them, there are specific steps to be followed for successful application. These steps include everything from looking for the best VA loan lenders to maintaining a stable credit score. Here are a few easy steps to make a successful loan application for veterans.

1. Get preapproval for the VA loan
With preapproval, you can determine your budget. This process involves telling your VA loan lender about your homebuying goals, employment history, and military service. Some documents required during this process include copies of your driver’s license, DD-214 or Guard/Reserve points statements, recent pay stubs, and bank statements.

2. Look for VA-approved loan lenders
Always shop for a lender who is an active participant in the VA loan program. The best VA loan lenders would offer several options and deals. The deals generally differ based on discount points, interest rates, and VA closing costs. If you face any difficulty, a loan officer can help you find the right VA loan lender.

3. Get an eligibility certificate
A certificate of eligibility or COE is proof that you have met all the eligibility criteria for the VA loan. You can obtain the COE directly through the government’s online portal for VA. However, VA loan lenders also offer ways of applying for a COE.

4. Get a contract or purchase agreement signed
A purchase agreement or contract is essential to get ahead with the VA loan process. This contract encompasses multiple contingencies, such as assurance of home inspection, the process of handling repair requests, the number of days for the buyer to secure the finances, and so on. A loan officer and real agent can assist you in preparing a robust contract.

5. VA loan closing
This is the final step. Before loan closing, most VA loan lenders verify your employment and other crucial information for the last time. Then a Closing Disclosure is dispatched right before the loan closing is scheduled. With this document, you can compare the loan information and final closing costs with the initial estimates.

Insurance helps cover unexpected costs and liabilities that may incur in the future. Investing in a decent insurance policy also protects your assets, be it rental or owned. If you are a business owner and own or rent vehicles that transport goods and consumables, you must invest in commercial vehicle insurance for the following reasons. There are several monetary benefits, some that also save tax in the long run.

Some of them are mentioned below:

Get additional cover
Your regular auto insurance may not cover all costs that arise out of accidents or personal injury involving commercial vehicles. Also, most personal auto insurance policies are not valid for liabilities accrued out of vehicles used for business purposes. This is where commercial truck insurance will provide customized, comprehensive insurance suited to your business needs.

Follow regulations
The law in many states requires business owners to get a commercial vehicle insurance policy. The insurance is mandatory if your business transports goods and hauls heavy-duty equipment. Even if your company provides service from a vehicle, your auto insurance policy will not cover the liabilities. Any business, partnership, or corporation that owns vehicles for commercial use must buy this additional cover.

Customized coverage
One of the main advantages of buying commercial insurance is that you get custom cover for specific damage, repairs, or the replacement of certain parts. The insurance provides for anything necessary to protect your business interest from liabilities that arise out of an unforeseen circumstance. The semi-truck insurance quotes are available at competitive prices and can also be modified seasonally to avoid overpaying insurance.

Employee coverage
Some commercial policies also provide cover for employees who drive the vehicle. If any personal injury or liability arises from an accident or mishap involving the employee, commercial vehicle insurance will provide for these unexpected costs. The policies are also valid for businesses that do not own but rent vehicles for managing logistics.

Beneficial for offsetting costs
Lawsuits can be lengthy, tedious, and create a financial burden on the business. Even though basic auto policies provide cover for lawsuits, commercial vehicle insurance provides double this cover to pay for legal fees, court proceedings, and even damages if the liability falls on the business. More importantly, commercial insurance can be written off as a business expense and is tax-deductible.