Tax Planning Archives - Babb Financial Group LLC | Flagstaff AZ Retirement Income Planning

Short-Term Rental Taxes: The Rules Vacation Rental Owners Get Wrong
Short-Term Rental Taxes: The Rules Vacation Rental Owners Get Wrong

Short-Term Rental Taxes: The Rules Vacation Rental Owners Get Wrong

A cabin in the pines or a casita near the red rocks can be a solid source of income, and short-term rental taxes follow a different set of rules than a long-term rental. Whether the property belongs on Schedule E or Schedule C, whether its income is passive or nonpassive, and whether a cost segregation study is worth the fee all turn on facts about how you run it. Get those facts right and the return follows. Get them wrong and you can pay tax you did not owe, or lose a deduction you had earned.

2026-09-21T00:03:33+00:00business planning, financial planning, Tax Planning|

Selling Your Business: The Tax Decisions to Make Before the Buyer Shows Up
Selling Your Business: The Tax Decisions to Make Before the Buyer Shows Up

Selling Your Business: The Tax Decisions to Make Before the Buyer Shows Up

Most owners spend decades building a business and a few months selling it. The taxes on selling a business are often the single largest cost of the deal, and nearly every lever that reduces them has to be pulled before you sign a letter of intent. After that point the structure is set, the price is allocated, and your options narrow to filing the return.

2026-09-09T20:51:46+00:00business planning, financial planning, Retirement Planning, Tax Planning|

Northern Arizona Healthcare Benefits: Getting the Most From Your NAH 401(k), 457(b), and HSA
Northern Arizona Healthcare Benefits: Getting the Most From Your NAH 401(k), 457(b), and HSA

Northern Arizona Healthcare Benefits: Getting the Most From Your NAH 401(k), 457(b), and HSA

The Northern Arizona Healthcare benefits guide is thorough about what exists: a 401(k) that matches dollar for dollar up to 5% of pay, a 457(b) for eligible employees, a health savings account NAH helps fund. What it cannot do is tell you what to choose. How much to defer, and pre-tax or Roth? Is the 457(b) worth using if you are eligible? Spend the HSA on this year's bills, or let it build? The guide describes the accounts. The decisions are yours.

2026-09-01T15:23:07+00:00Retirement Planning, Tax Planning|

Is Social Security Really Tax-Free Now? How the $6,000 Senior Deduction Works
Is Social Security Really Tax-Free Now? How the $6,000 Senior Deduction Works

Is Social Security Really Tax-Free Now? How the $6,000 Senior Deduction Works

If you are 65 or older, a new federal deduction worth up to $6,000 per person, or up to $12,000 for a qualifying married couple, is available right now and is scheduled to expire after 2028. It can lower the tax you owe on your income overall, including the taxable portion of your Social Security. It also phases out as income rises, which means ordinary retirement decisions, an IRA withdrawal, a Roth conversion, the sale of a stock, can quietly change how much of it you keep.

2026-08-01T14:05:55+00:00Retirement Planning, social security, Tax Planning|

Business Meal Deductions in 2026: What You Can Still Write Off, and What You Cannot
Business Meal Deductions in 2026: What You Can Still Write Off, and What You Cannot

Business Meal Deductions in 2026: What You Can Still Write Off, and What You Cannot

If your business buys food, the tax rules changed on January 1, 2026. The biggest shift: most meals you provide to your own employees are no longer deductible at all. Meals with clients did not change, and your holiday party is still fully deductible. Here is what business owners need to know, in plain English, and a simple way to keep your books clean so nothing gets lost at tax time.

2026-07-12T12:49:23+00:00business planning, Tax Planning|

Retiring from NAU: What to Know Before You Make Decisions You Cannot Reverse
Retiring from NAU: What to Know Before You Make Decisions You Cannot Reverse

Retiring from NAU: What to Know Before You Make Decisions You Cannot Reverse

If you are an NAU employee within a few years of retirement, you have probably started asking questions that did not feel urgent on your first day. Back then, somewhere in the onboarding paperwork, was a retirement plan election form. You had 30 days to choose between ASRS and the ORP. Most people filled it out quickly, or missed the window and defaulted into ASRS, and moved on...

2026-06-05T16:04:46+00:00Financial News, Retirement Planning, Tax Planning|

Should You Sell a Concentrated Stock? Why Holding It Could Cost You More Than Taxes
Should You Sell a Concentrated Stock? Why Holding It Could Cost You More Than Taxes

Should You Sell a Concentrated Stock? Why Holding It Could Cost You More Than Taxes

A highly concentrated stock position often represents success. It may come from building a business, working at the right company, or holding a long‑term winner. Over time, however, that success can quietly introduce a new form of risk: having too much of your financial future tied to a single company.

2026-06-25T22:18:33+00:00Financial News, Investment News, Retirement Planning, Tax Planning|