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      September 18, 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.


Keeping Track of Nevada's Cash-Only Cannabis Industry Taxes

The legal marijuana industry brought in about $70 million in tax revenue last year, surpassing the estimated $50 million. That money is all collected by the state, in cash. Cannabis tax revenue comes ...

Published:  Mon, 17 Sep 2018 18:13:00 GMT

Trump tax law takes center stage in Nevada Senate race

The war over President Trump Donald John Trump Ex-Playboy model accuses GOP fundraiser Elliott Broidy of physical abuse: reports Cohen seeks to vacate hush-money deal with Stormy Daniels Stormy ...

Published:  Sat, 08 Sep 2018 10:36:10 GMT

Nevada Question 2: Exempting Feminine Hygiene Products from the Sales Tax

Voters in Nevada will be asked several questions on their November ballot. One, known as Question 2, would amend the state's sales tax code to exempt feminine hygiene products from taxation. Currently ...

Published:  Fri, 07 Sep 2018 12:38:00 GMT

Governor candidates Laxalt, Sisolak at odds on raising taxes

Laxalt opposes raising taxes; Sisolak's campaign mantra prioritizes raising them. Their pledges come on the heels of the Nevada State Legislature voting to raise taxes through a constitutional amendme...

Published:  Thu, 13 Sep 2018 12:49:00 GMT

Tesla May Ultimately Be the Winner in Nevada's "˜Toss-Up' Senate Race

that would extend the tax credit as well. That bill has been introduced in the House Ways and Means Committee. "Incentivizing the use of electric vehicles will be good for Nevada's economy and ...

Published:  Fri, 07 Sep 2018 04:46:00 GMT

Nevada: Where Innovation Meets Logistics

Henderson offers numerous financial incentives: businesses are exempt from state income, franchise, special intangible, bank share, chain store, or inheritance taxes. Nevada's lean approach ...

Published:  Mon, 10 Sep 2018 11:19:00 GMT

Guinn Center lays out facts on Nevada ballot measures

They also say most women don't spend that much on those taxes - about $5 per person per year. Question 3: Energy Choice Initiative Question 3, which would restructure Nevada's energy market to end mon...

Published:  Fri, 14 Sep 2018 15:12:00 GMT

Nevada Club Inn settlement before supervisors Monday

The settlement would reduce the full cash value from $942,435 to $374,288 with a tax reduction from $16,948 to $6,723. The 80-room Nevada Club Inn is at 336 Lee Ave. and is in disrepair. The motel was ...

Published:  Sun, 16 Sep 2018 23:15:00 GMT

Sponsored: Is a state with no income tax - like Washington - better or worse

Seven U.S. states forgo individual income taxes as of 2018: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Residents of New Hampshire and Tennessee are also spared from handing ...

Published:  Tue, 11 Sep 2018 11:25:00 GMT

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