“Everybody’s got to pay taxes,” Walker says. “There’s just no reason to pay more than you have to.”
The 2019 tax season marked a notoriously challenging period for small businesses, who faced myriad changes to the tax regulations, leading to frustration across the board. If your company is on deck to file business taxes this coming April, now is the time to prepare so you can face smooth sailing in the new year. Consider the[…]
April can sometimes make or break us, depending on your own personal tax situations. And with the rise of legalized sports betting in the U.S., many Americans have taken the plunge and placed a bet on their favorite team. According to the American Gaming Association, nearly 22 million Americans bet on Super Bowl LIII, with a staggering $6 billion wagered. Unlike past Super Bowls, this year’s game featured plenty of wagering in states beyond Nevada. A total of eight states offer legalized, regulated sports betting with a dozen more on the brink of legalization this year.
We always hear that the tax structure in Nevada is more favorable than the tax structure in California, but what exactly does that mean? Let’s examine this in detail. BUSINESS TAXES In California, C-corporations are taxed at a rate of 8.84% on the net taxable income, with the minimum tax being $800. This rate is[…]
As we approach the end of 2018, it is important for small business owners to understand what opportunities exist to lower their taxes before the year and to be aware of some new tax laws that may affect their taxable income. If your company is in need of new machinery, furniture or computer equipment and[…]
We have recently hired a full-time Bookkeeper. Thank you to everyone who applied and provided support during our search. Essential duties and responsibilities Research, understand and support CPA in tax prep, tax planning, financial statement prep, payroll and sales tax requirements, and IRS resolution Prepare Tax Files in an organized and neat manner Answer phones[…]
If you own a business, it is important to know what expenses can be deducted against your income to minimize the income tax you pay. This is a list of the most common allowable items. All expenditures must be supported by a receipt and proof of payments. These apply only to businesses and not to[…]
Published in the Expert’s Corner of Las Vegas Business Press The new tax legislation, The Tax Cuts and Jobs Act, drops the corporate tax rate to 21 percent and offers a 20 percent deduction (with some limitations) for owners of pass-through entities. Now is the time to reevaluate your entity structure to insure that, based[…]