Best Tax Relief in Nebraska in 2019

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Tax Relief in Nebraska

In Nebraska, a number of taxes affect residents overall tax burden. The state levies a personal income tax with a top rate of 6.84%, 15th highest among those state that collect an individual income tax. This tax, in combination with other local taxes, results in an average of $938 per person annually, 21st highest nationwide.

With respect to property tax, Nebraskans pay an average of $1,566 per person, which ranks the state 14th highest in the United States. However, the state is 18th lowest when looking at individual federal income taxes; its average of $9,200 is lower than the national average by more than $2,000.

While Nebraskans have a median household income of $53,774, slightly higher than the national average of $51,939, the state has not been immune to the financial challenges that have affected the United States in recent years. Nebraska has experienced a decline of more than 6.5% in the average household income, and this decline has caused residents of the state to seek out tax relief as one approach to increasing financial struggles.

Tax debts can mount as individuals use their limited financial resources to meet their most pressing needs: sending in the mortgage payment, paying the electric bill, putting food on the table, or taking a sick family member to the doctor. When people have little-to-no money left at the end of the month, they rarely think to set aside any savings for the April 15th tax bill and wind up with significant amounts of tax debt.

Tax debt is an area where Nebraskans face difficulties, with the stress of owing state and federal tax authorities and the possibility of garnished wages and seized assets. Tax relief companies work with clients to find solutions to serious tax problems, and in some cases can even reduce clients? overall tax debt. Experts in tax relief make use of a number of strategies to help clients; some of those tools are traditional or streamlined installment agreements with the IRS, penalty abatement, and audit reconsideration.

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Tax Relief In The News

NJ tax on drugmakers could hurt patients who need pain relief | Letter

There a number of big challenges that our lawmakers are looking to tackle this year. From school funding to public transportation and the opioid epidemic, New Jersey lawmakers have their work cut out. ...

Published:  Wed, 24 Apr 2019 10:09:00 GMT

Sizing up proposed property tax relief plan ahead of debate

LINCOLN - It's prime time for property tax relief proposals. On Wednesday at 4 p.m., legions of lobbyists, as well as their clients, will get to testify at a public hearing on an ambitious plan that ...

Published:  Tue, 23 Apr 2019 22:47:00 GMT

The Oakland Raiders and tax relief in Las Vegas

The Review-Journal's April 20 editorial would have us believe that the Oakland Raider players are coming to Nevada for tax relief. The paper knows full well that these players are coming to Nevada ...

Published:  Tue, 23 Apr 2019 21:01:00 GMT

Lawmakers unveil more ambitious property tax relief proposal, raising sales tax ¾ of a cent

LINCOLN - State lawmakers upped the ante Wednesday, unveiling an even more ambitious property tax relief proposal amid another round of criticism from Gov. Pete Ricketts. The new tax plan, detailed by ...

Published:  Fri, 19 Apr 2019 06:19:00 GMT

Ricketts: Break the endless cycle of tax and spend

Worst of all, LB 289 proposes to take away $224 million in existing property tax relief and redirect it to increase spending. Right now, Nebraskans receive a credit from the state that provides ...

Published:  Wed, 24 Apr 2019 05:00:00 GMT

Commentary: Texans suffer if tax relief tools are allowed to expire

In the 1990s, Texas was not the state of economic opportunity that it is today. It was hard for Texas with such high property taxes to attract highly capitalized manufacturing companies and global ...

Published:  Tue, 23 Apr 2019 15:42:00 GMT

Ricketts gets early jab in at property tax relief plan on the eve of public hearing

LINCOLN - Gov. Pete Ricketts got in an early punch on Tuesday, jabbing a legislative proposal to reduce property taxes as "the largest tax increase in Nebraska's history." He is the first in an ...

Published:  Tue, 23 Apr 2019 17:22:00 GMT

Music venues could see tax relief via liquor rebate

AUSTIN - Texas music venues may soon see some tax relief depending on the success of a bill in the Texas legislature. House Bill 2806 filed by Rep. Geanie Morrison, R-Victoria, would create the Texas ...

Published:  Sun, 21 Apr 2019 17:23:00 GMT

Lawmaker's consider 3/4 cent sales tax hike in latest property tax relief plan


Published:  Thu, 18 Apr 2019 01:27:00 GMT

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