Congress

I was pleasantly surprised to see Congress pass the 2017 Tax Cuts and Jobs Act, before the year was over. Now, we all need time to understand the 503 pages of the New Tax Law. It is hoped it will improve the tax treatment of businesses in the United States.

CARSON CITY — Nevada Gov. Brian Sandoval issued the following statement Friday urging the U.S. Senate to pass the CHIP re-authorization measure that was approved by the House of Representatives last night. The governor also expressed his continued support for the DACA program.

As of Jan. 1, 2018, the new tax law, Tax Cuts and Jobs Act, takes away the deduction for employee business expenses that were claimed as miscellaneous itemized deductions on Schedule A of form 1040.

Nevada Republican Rep. Mark Amodei sees no immediate threat to the state’s burgeoning marijuana industry following Attorney General Jeff Sessions’ recent decision to overturn policy at the Justice Department that gave states protections from federal prosecution.

Nevada Gov. Brian Sandoval responded to U.S. Attorney General Jeff Sessions decision Thursday to rescind the Obama-era directive that allowed states to make decisions regarding federal enforcement of marijuana laws.

Muscle Powered, Citizens for a Walkable and Bikeable Carson City, recently received a $2000 grant from Nevada Department of Transportation Bicycle and Pedestrian Advisory Board to facilitate a video competition to create public service announcements about the dangers of texting and driving.

Christmas is just around the corner. For small businesses, it is officially the start of the make-or-break holiday shopping season. And this year, passing a tax bill would give small business owners much to be thankful for.

Lawmakers are running low on time to pass a new 25 percent tax rate for small businesses—the largest tax cut in generations, as President Trump often says.

As a small business owner and lawmaker at the state level, my message to Washington is simple: Get the job done. Small business deserves it, voters want it, and the economy needs it.

It is good Congress has linked many retirement plans with inflation. Here are some of the main 2018 dollar limits. 401(K) maximum contribution increases in 2018 to $18,500. That is $500 more than it was for 2017. And if you were born before 1969 (will be age 50 by 12-31-18) the “Catch-up” contribution is an additional $6,000.

The arid high desert topography of Nevada is perhaps the most unlikely image of Thanksgiving.

Republicans in congress have introduced their tax bills, and they and the president intend to pass some version of tax reform promptly. As they try to craft a package that will pass, let’s recall themain principles, goals and problems facing tax reform.

The key goal is always economic growth. Growing the economy at a sustainably fast clip means on average everyone is better off and each person or family has more opportunity to improve their lot. It also allows us to afford more of the public goods that government can supply, including caring for the needy.

WASHINGTON, D.C. – Congressman Mark Amodei (NV-02) released the below statement following the House Republican Conference’s recent unveiling of the Tax Cuts and Jobs Act, a comprehensive plan to reform our nation’s tax system:

Congress sure has some confusing rules. If you filed separate returns, but were married for the year(s) involved, you might consider filing and Amended Return form 1040X to change to filing a joint income tax return.

Will Congress change the tax laws? When will they send the proposed changes to the President? Will he sign it and have the laws changed? I don’t know, but perhaps you should not ‘hold your breath’ waiting for it to happen. Of course the tax laws are too complicated and it is too expensive to prepare the returns.

Congress has special rules that apply when a loss results from a casualty like Harvey or Irma. Victims have more time to file their 2016 income tax returns-until Jan. 31, 2018. And they also have until Jan. 31, 2018 to pay the estimated tax payments due Sept. 15 and the following Jan. 16, 2018.

Two recent news stories caught our attention, and they suggest some good news, but ...

First, the estimated growth rate of U.S. gross domestic product (GDP) – that is, the annual rate of growth for America’s economy – was revised upward to 3.1 percent for the second quarter of 2017.

Second, the Trump Administration has eliminated 16 regulations for every regulation it has implemented.

Gary P. Johnson was employed as an insurance adjuster. He had to travel to do his work. He paid a lot of lodging, meals and incidental expenses to do the work related travel.

The Health Savings Account is a wonderful thing! Contributions (that are qualified, or allowed) are an income tax deduction on page 1 of form 1040, whether Itemized Deductions on Schedule A are done, or not. And employers can contribute to an eligible person’s Health Savings Account. The employer contribution is not included in taxable income.

Hosted by the Comstock Democratic Club and the Silver City Small Actions Committee – September 30, 2016 – Silver City Town Park – 11:00 am-3:00 pm – 385 High Street, Silver City, NV 89428

RSVP: Call John Hartley at 775-315-6135 or email Vickie Cannon at ComstockDemClub@gmail.com

https://www.facebook.com/ComstockDemocraticClub/

Democrats, statist liberals, other leftists and their media echo chamber were in full-throated “sky is falling” mode over the Labor Day weekend about the supposed imminent repeal of the Deferred Action for Childhood Arrivals (DACA) program by President Trump.

First, note this. When you govern with a “pen and a phone”, as former President Obama so famously did when he could not get what he wanted from Congress, a DACA repeal by order of the next president is a potential result. Governing by executive order works only when the next president is going to follow your lead.

Congressman Mark Amodei (NV-02) will host a veterans' town hall meeting on Tuesday, August 29, 10 a.m. to noon at the Old Court House located at 1616 8th Street in Minden.

On July 27th, 2017, Lynn Beteag, Managing Director, of Nevada State EB-5 Regional Center was a guest speaker to the Reno/Sparks Association of REALTORS. The topic of Beteag’s presentation “The EB-5 Program - Access to Capital through Foreign Investment” explored how local businesses benefit from foreign investment and foreign workforce talent.

Once in a while a stock or bond you bought has big problems and becomes worthless. A security (stock or bond) that becomes worthless during the year is treated (and reported on your tax return) as if it were sold on the last day of the year.

RENO, Nev. – At the request of the U.S. Forest Service, one Nevada Air National Guard C-130 aircraft will deploy Saturday to support firefighting efforts in central California.

Despite what so many Americans demand of lawmakers today, our country wasn't built so much on cooperation as it was people with differences learning to get along.

Doug Watson will portray legendary humorist “Will Rogers”, at the Dangberg Home Ranch Historic Park on Wednesday, July 12, at 6:30 pm.

The Georgia-6 special election turned out to be a media headfake. Karen Handel, the former Republican Secretary of State with universal name recognition in a deep red district, eeked out a 3.2-point victory over Jon Ossoff, a 30-year-old Democrat with no experience in elective office and no prior name recognition, and who didn't even live in the district. This narrow victory was described as a "Democratic defeat," which is a little much considering that Georgia-6 has been Republican since the 1970's.

UPDATE WEDNESDAY: Nevada Gov. Brian Sandoval issued the following statement Wednesday in response to United States Secretary of Energy Rick Perry’s opening remarks in front of the Senate Energy & Water Subcommittee.

IRS Code Section 1411 charges 3.8 percent additional Medicare tax on unearned income of high earning taxpayers. That surtax is called “unearned income Medicare contribution tax” or the “Net Investment Income Tax.” It is in addition to the regular income tax.

Nevadans celebrated both Flag Day and the U.S. Army’s 242nd birthday Wednesday during a ceremony at the Nevada Veterans Memorial on the state capitol grounds in Carson City.

The State of Nevada’s legal fight against Yucca Mountain took an important step forward this week, with the filing of a motion to dismiss a State of Texas lawsuit that threatens to undercut Nevada’s opposition to the Yucca Mountain repository.