It is well known that any debate in the Nevada Legislature over raising mining taxes has been a controversial topic since prospectors first struck gold in the 19th century. Previous efforts to raise the tax or reduce the ability of companies to deduct net proceeds have come up short. Opponents have argued successfully that any increase in the tax rate would severely … [Read more...] about Mining for Taxes
Las Vegas taxes
The ‘End of the World’ Comes with a Bump in Pay
One wouldn’t know it listening to many media loudmouths, but the recently passed GOP tax reform bill is producing results that should earn the applause of “progressives.” Unfortunately, as is now par for the course, political tribalism — not legitimate policy concerns — has encouraged the political left to protest a tax plan that’s poised to benefit every income bracket and … [Read more...] about The ‘End of the World’ Comes with a Bump in Pay
A Key Definition in the Margin-Tax Scheme Would Have Catastrophic Impact
Much ado has been made, and will continue to be made, about what is the most important question on Nevada’s 2014 ballot. But one critical aspect of the state teacher union’s proposal to enact a business margin tax has gone virtually unnoticed: the definition of an “affiliated group.” For the non-accountant, this might sound like a tedious and technical detail, but it could … [Read more...] about A Key Definition in the Margin-Tax Scheme Would Have Catastrophic Impact
May 2014: Around the State
Coalition Releases Job Impact Memo on Margin Tax Initiative The Coalition to Defeat the Margin Tax Initiative (CDMTI) has completed an analysis of the potential employment impacts of Question 3, the Margin Tax Initiative, which will appear on November’s ballot. According to their research, the tax burden for businesses would increase by approximately $700 million. That … [Read more...] about May 2014: Around the State
Profit and Loss Statements: Sounds Simple. Is It?
Profit and loss statements are a great tool to monitor the profitability and health of a company. At first glance they seem fairly simple; however, there are some important things to remember when working with these statements. There is real life, and there are taxes. They look alike but one is an orange and the other is a tangerine. The profit and loss statement typically … [Read more...] about Profit and Loss Statements: Sounds Simple. Is It?