Tax Planning

As we head into the first day of the work week, Monday, May 6, 2019, we're looking at sunshine and a chance of afternoon showers and thunderstorms with a daytime high in the low 70s, according to weather service forecasters. Activities include talks, art showings and demonstrations, presentations and more. Enjoy.

This set of classes includes Taxes in Retirement and Retirement Income Planning. Taxes in Retirement will equip you with the most up-to-date and comprehensive information regarding retirement taxation, including ways to efficiently harvest your income sources - whether they are Social Security, 401(k)/IRA, other sources, or a combination of them all. Using the information you'll learn during our seminar, you'll be better positioned to develop a successful retirement tax strategy that can potentially safeguard you from over-taxation - all with the goal of saving you money.

If you need a business SUV, van or crossover vehicle AND you need more tax deductions for 2018:

Buy and place in service by Dec. 31, 2018 a new (or used) business vehicle (OK to have mostly business use with some personal use) and do a draft 2018 return to see how much you want or need more business expenses.

The new tax law that applies for 2018 and later years has several changes for you to consider. Maybe the best suggestion is to get a copy of your 2017 return handy and your estimate of 2018 income and deductions.

Hope you had a Happy Nevada Day! It's now 50 days till Christmas and 60 days until 2016! Wait a minute! I know I was just celebrating the 4th of July recently. How did we get here so fast?

If you owed taxes last year (for 2014 returns) and would like to avoid that nightmare again, I have some ideas for you.

The University of Nevada, Reno’s College of Business has named Mehmet Tosun, associate professor and chair of the Economics Department, the Barbara Smith Campbell Distinguished Professor of Nevada Tax Policy. The four-year professorship is designed to assist in tax policy research at the state and local level, with a primary focus in Nevada.

As both an undergraduate and graduate instructor and researcher, Tosun believes the professorship is another way to bring tax policy research into the classroom.

Every year at this time, my heart beats a little lighter. All the negativity, bad news, etc. of recent is now “last year’s old news.” I’m looking at a blank slate. No baggage! (Well, maybe I picked up a pound or two with all the Christmas goodies.)
So what are the good things to look forward to on the horizon?

COUNTRY Financial Representative Sean Marler of Carson City has earned the CERTIFIED FINANCIAL PLANNER™ designation from the Certified Financial Planner Board of Standards, Inc.

The CFP® program provides professionals with the knowledge and skills needed to assess a client’s current financial status, identify problem areas and recommend solutions.

The Congressional Research Service, a policy research arm of Congress, recently told Congress 76 U.S. corporations have shifted their tax domiciles out of the United States to other countries since 1983 to avoid U.S. taxes.

Moving the tax domicile is known as an “inversion." It is still rare, but it is becoming more common. The Congressional Research Service said 47 such deals have been done in the last 10 years and more are in the works.

Carson City Supervisor Brad Bonkowski provides an update of the May 1 Board of Supervisors meeting. In this report, Brad discusses hours for the clerk's office during the election cycle, the final reading and passage of the 1/8th cent sales tax, planning department grants and a state mandated small business loan program.

Well Howdy folks! I sincerely hope you all had a GREAT Thanksgiving! We do have so much to be thankful for.

One of the things I am thankful for is that we have finished updating all our office computers operating system to a newer version of “doors” (not the real name to protect the innocent). I haven’t noticed any improvement in productivity yet though. (I thought new computer stuff always meant new tools that make us more productive.