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      July 21, 2018

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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.


States Should "˜Take the Long View' on Sin Taxes, Report Says

One solution, Murphy said, is for states to do what Nevada has done with taxes on a newly legal substance, recreational marijuana. The Silver State, which approved legal recreational marijuana use in ...

Published:  Thu, 19 Jul 2018 08:13:00 GMT

Northern Nevada companies approved for $1.3M in tax abatements

Three companies expanding in or locating to Northern Nevada received approval for tax abatements from the Governor's Office of Economic Development Wednesday. A total of $1.3 million in abatements wer...

Published:  Wed, 11 Jul 2018 16:50:00 GMT

Nevada Sees Rise in Tax Revenue from Sales, Marijuana

Nevada's tax income is on a hot streak, with increases in tax revenue from traditional sources, like sales tax, as well as from less traditional ones, like marijuana. Nevada Department of Taxation Dir...

Published:  Fri, 13 Jul 2018 18:22:00 GMT

Nevada TV ad cherry-picks tax cut benefits to top 1%

A new ad on the air in Nevada against the Republican tax law features a cheerful grandmother doling out brightly wrapped candy to her grandchildren. To the girl, she gives heaping handfuls. To the boy ...

Published:  Tue, 10 Jul 2018 06:14:00 GMT

Why Californians snapping up Arizona luxury homes could signal tax exodus

when asked about the rising tax burden for Bay Area residents following the new federal tax law. "They can move to Nevada or other places with a lower cost of living. That's really important if you're ...

Published:  Tue, 17 Jul 2018 11:20:00 GMT

Tennesseans pay the highest sales tax in the country

Tennessee is one of nine states that do not tax incomes: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. Louisiana previously had the top average combin...

Published:  Wed, 18 Jul 2018 10:43:00 GMT

Western Alliance Reports Second Quarter 2018 Financial Performance

Key management metrics for evaluating the performance of the Company's Arizona, Nevada, Southern California, Northern California, and NBL segments include loan and deposit growth, asset quality, and p...

Published:  Thu, 19 Jul 2018 16:03:00 GMT

Time to raise Nevada's gaming tax to fund state needs

Year after year it is always the same. Not enough money for teachers, police or firefighters and on it goes. Yet we can find $750 million for a football team, money for a baseball stadium and $100 mil...

Published:  Fri, 13 Jul 2018 21:05:00 GMT

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