Just like regular people, celebrities also fail to adequately plan for their estate. Estate planning is a vital tool that provides guidance in the event of a death. It is a common belief that because celebrities have much more wealth than the average person, protecting that wealth would be of the utmost importance. However, there…
Continue reading…Category: Tax
Avoiding Entrepreneurial Burnout
Entrepreneurs typically embody ambition, drive, and passion. However, entrepreneurs often burn out quickly. Why does this happen? In short, they give too much of themselves to their venture; if it fails or if they face road-blocks, it may be difficult (mentally and/or financially) for them to keep going. Maintaining high levels of enthusiasm is hard…
Continue reading…The Proposed GOP Tax Overhaul: A Summary of its Key Points for Nevada Families & Businesses (Part 2)
Part 2: Corporate/Business Taxes, Estate Tax, & Miscellany Corporate Taxes: Big Corporations would likely see a substantial tax reduction: one of the bill’s biggest aspects, and perhaps the most controversial, is the permanent reduction of the corporate tax rate from 35% to 20%- the largest one-time drop in big-business tax rate in history. Although the…
Continue reading…The Proposed GOP Tax Overhaul: A Summary of its Key Points for Nevada Families & Businesses (Part 1)
Part 1: Individual Taxes There are a huge variety of factors to weigh in trying to figure out whether individuals/households would see an increase or decrease in their tax rate. According to the bill’s supporters, most Americans are likely to see a small reduction of taxes under the plan; however, many Americans will see an…
Continue reading…Who Are the Decision Makers in Your Estate Plan? (Part 2)
Welcome back to the second installment discussing key decision makers. Part 1 introduced the concept of decision makers and we named some active roles. This week, we are finishing up this topic by naming a few more roles that are pertinent parts of running a successful estate! Enjoy! Agent (Durable Power of Attorney for Healthcare…
Continue reading…Who are the Decision Makers in Your Estate? (Part 1)
Who are the Decision Makers in Your Estate Plan? (Part 1) Within an Estate Plan, there are decision makers that are appointed to make sure your estate runs efficiently and appropriately after you are gone. Some of these decision makers will play a very small role and some will have a larger, more active…
Continue reading…Estate Planning for Millennials – You’re Not too Young to Start Planning! (Part 3)
Okay Millennials, we are going to finalize this 3-part info session with Asset Protection!! When thinking of asset protection, even if you have no current assets, it is much more beneficial to have in the initial stages of planning rather than trying to group your assets together and place them later. Nevada is one of the…
Continue reading…Independent Contractor or Employee???
At first glance, it seems pretty clear cut. Independent contractors provide services to a company, but are not on the payroll, and (usually) bill for their time separately via invoice, like a vendor. Possibly, the most notorious denotation of an independent contractor is the tax responsibility. Instead of getting a W-2, like regular employees, independent…
Continue reading…Nevada Commerce Tax FAQs—- Deadline is August 15, 2016!
We’re getting a lot of questions about this issue, and I admit, it’s a bit confusing. You see, the measure for the Margin Tax was defeated during Nevada’s last legislative session… But we have to now deal w/ the Nevada Commerce Tax. What is it? The Commerce Tax is a new annual business tax passed…
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