Four Things You Must Do Right Now To Minimize Your Taxes For 2019
“Everybody’s got to pay taxes,” Walker says. “There’s just no reason to pay more than you have to.”
In the News
3 Tips Help You Prep Now for the Upcoming Tax Season
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[…]
Sports Betting and Uncle Sam
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.
Taxes in Nevada vs California and How They Affect You
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[…]
Tax time: Here are a few things to remember
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[…]
Does Your Entity Structure Best Fit the New Tax Law?
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[…]
End of the year giving to Vegas PBS
This has been an exciting year at Vegas PBS with the release of The Vietnam Series by Ken Bruns and Lynn Novick. Vegas PBS Honored our local Vietnam veterans with a welcome home medallion at the Nellis and Creech Veterans Appreciation Day Event and a welcome home event in Anthem. Vegas PBS also produced Stories[…]
We Can’t Be Afraid of Diving into Marijuana
The learning curve is steep, but can be worthwhile. By Liz Gold Kim Walker came into the cannabis industry by what she describes as happenstance. Walker, who has 35 years of public accounting experience and runs her own small practice in Las Vegas, said it was her wealthiest business clients who brought her into this[…]
Now Is The Time to Plan for Tax Time
Published in the Expert’s Corner of the Las Vegas Business Press by Kim Walker I believe that most certified public accountants expected comprehensive tax reform legislation sometime in 2017. Here we are at the end of the summer with not much hope in sight. We may possibly have a tax rate reduction but this might[…]
How to Prevent an Unfavorable Tax Audit
Published in CREW Las Vegas Newsletter Q1 by Kim Walker Without extenuating circumstances, your chance of being audited by the IRS is less than 2%. However, if you are audited, you will went to have all of your supporting paperwork in order to prevent an additional tax assessment. The areas of risk are not going to[…]