An Accountant Talks About The Many Benefits Of Living In Nevada

April 1st, 2022 by admin No comments »

Living in the state of Nevada may not seem special, but it is a big deal as far as taxes are concerned. Nevada is one of five states that do not have a personal income tax. As an accountant who works with individuals and businesses in Nevada, I wanted to discuss the tax benefits of living here.

No Make-Up Taxes

If a state does not have a personal income tax, they tend to make up for it with another tax. For example, the state of Texas does not have a personal income tax, but property taxes are substantially higher than in other parts of the country. Nevada is the best of both worlds because there is no state income tax, there are really no hidden taxes, and our sales tax is not outrageous.

Where Does Nevada Get the Money?

Historically Nevada gets the needed tax revenue from the mining, casino, and construction industry. The state needs the money to fund emergency services and other state services, so in this state that is how they make up for not having an income tax.

What Does It Mean?

If you compare our taxes to our neighbor to the west, California, we have huge benefits. The first is the income tax benefit, because California has income taxes of up to 9.3% at the individual level. In addition, the utility cost, and other costs to run a business are substantially lower in Nevada. Because of the lower taxes, Nevada is known to be great place to relocate your business to.

Other Reasons to Move to Nevada

The other major benefits for moving to Nevada are related to energy efficiency. Nevada is a state that sees a lot of sun and wind. Because of the surplus of sun and wind, companies who are exploring alternative energy may choose to relocate to Nevada. We also are an attractive state to geo-thermal companies with the numerous hot springs we have. As an accountant, I think that Nevada has many benefits and if you are thinking about relocating your business, it might be the right place.

Why Do Some Businesses Not Move To Nevada?

Although I think there are some great financial benefits and energy benefits to moving to Nevada, there is one thing that restricts some companies-water. When I worked for a division of Dole, we considered moving our frozen fruit operation into the state of Nevada for all the reasons that I talked about before. We could save a lot and it looked like a good decision until we realized that water is not abundant in Nevada. The reason that we did not move to Nevada was that we required a large volume of water.

If you are considering moving your company to Nevada, you should contact an experienced accountant and discuss the benefits. You will also want to consider the cost to move your company. Sometimes the cost to move will be so large that the savings will never make up for it.

Reputation Management is the Answer How Your Business Is Perceived

March 1st, 2022 by admin No comments »

Is it true that you are keen on finding out about dealing with your standing? Have you been searching for accommodating and solid data? Indeed, this article will ensure you get a few strong ideas. It will assist you with sorting out some way to more readily deal with your standing.

Posting data via online media locales is essential to your business’ standing. You should post a few times each week at any rate to actually run an advertising effort. Assuming you see that posting via online media locales is overpowering, consider recruiting an aide to make your posts for you.

At the point when individuals invest in some opportunity to offer something about your business, it is vital that you are sufficiently gracious to answer. While you might be an extremely bustling individual, it shows your crowd that you really care about them and what they need to say. This is imperative to keep a consistent client base.

At the point when you talk with your crowd, ensure that you do as such in a conversational tone. Individuals try to avoid the possibility of entrepreneurs continuously addressing them with promoting to them. While you would like to make a deal, you ought to never cause a client to feel like this is your main concern.

Be grateful. Assuming somebody leaves a decent audit about your organization, send them an individual message and express gratitude toward them for their criticism. On the off chance that conceivable, send your client a coupon for a specific percent off on their next buy as a much obliged. In the event that this is preposterous, earnestly say thanks to them for their input.