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      January 18, 2019

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Tax Relief in Nevada

Nevada MapNevada stands out as being one of only seven states (Wyoming, Washington, Texas, South Dakota, Florida, and Alaska being the other six) that do not collect an individual income tax from state residents. However, the state does collect an average of $1,100 per resident, per year, in property taxes, ranking Nevada 21st lowest in the nation.

Nevada residents pay an average of $10,402 in federal income taxes per person each year, lower than the national average of $11,715.

However, Nevadans have seen the largest decrease in America in recent years with respect to household income, dropping more than 26% to a median household income of $45,369. This steep drop in income, along with other monetary difficulties, has resulted in larger numbers of Nevada residents choosing tax relief as a means to alleviate mounting financial challenges.

As Nevadans see their incomes decrease and their tax debt stay the same or even increase, they feel the pressure associated with owing money to federal and state tax collection agencies, which can often come in the form of threats to garnish wages or seize assets. While residents are often willing to pay their tax bills, they look at their diminishing income and rising expenses - rent, utilities, gasoline, groceries, and so on - and are unsure as to how they can meet their tax obligations while still having enough money to survive. With barely enough to live on, few people are likely to prioritize setting aside savings for a future tax bill. However, property and federal tax bills do not take into consideration personal hardships or other circumstances as they arrive in residents? mailboxes.

Tax relief companies work with clients to alleviate this stress and to even reduce overall tax liability. Experts in tax relief use a wide range of strategies in their clients? behalf, such as audit representation and reconsideration, negotiation of penalty abatement, and tax lien investigation.


In first state of state, Sisolak proposes long list of spending increases, pledges 'no new taxes'

During his first State of the State address, Nevada's newly elected Gov. Steve Sisolak proposed several spending measures within a balanced budget that includes no new taxes. Sisolak emphasized Nevada ...

Published:  Thu, 17 Jan 2019 06:06:00 GMT

The Latest: GOP applauds Sisolak for no tax increase call

Steve Sisolak's State of the State address (all times local): 7:20 p.m. Nevada Republicans are applauding Gov. Steve Sisolak's pledge not to increase taxes. The Senate Republican Caucus released a sta...

Published:  Wed, 16 Jan 2019 19:24:00 GMT

The Latest: Sisolak wants pot tax revenues for school safety

Steve Sisolak's State of the State address (all times local): 6:30 p.m. Nevada Gov. Steve Sisolak said he wants to spend a portion of a 10 percent marijuana tax on school safety. The Democrat said in ...

Published:  Wed, 16 Jan 2019 18:31:00 GMT

Nevada Gov. Sisolak gets praise, criticism for ambitious plan - VIDEO

The Nevada State Education Association also commended Sisolak ... But he liked Sisolak's commitment on no new taxes and maintaining a rainy day fund. Nonetheless, he said the speech left him with an u...

Published:  Wed, 16 Jan 2019 21:52:00 GMT

Sisolak announces board to oversee Nevada's legal marijuana industry

... Nevada's new Democratic governor reveals budget priorities, no new taxes in first State of the State address. Check out this story on ...

Published:  Wed, 16 Jan 2019 19:35:00 GMT

'Hyatt 3' Oral Argument And Potential State Tax Implications

The dispute in Franchise Tax Board v. Hyatt originates in a state tax residency audit. Hyatt was a long-standing California resident who moved to Nevada. The California Franchise Tax Board, or FTB, qu...

Published:  Mon, 14 Jan 2019 14:09:00 GMT

Examining SIPEF NV's (EBR:SIP) Weak Return On Capital Employed

Today we'll look at SIPEF NV (EBR:SIP) and reflect on its potential ... ROCE measures the "˜return' (pre-tax profit) a company generates from capital employed in its business.

Published:  Sat, 12 Jan 2019 02:31:00 GMT

Nevada's governor pledges no new taxes, additional education, health-care funding in address

Democratic Gov. Steve Sisolak is calling for a budget tens of millions of dollars above the one proposed by his predecessor, Brian Sandoval, adding a 3 percent salary increase for teachers, higher ...

Published:  Thu, 17 Jan 2019 10:27:00 GMT

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