Yes. he IRS, tasked with collecting taxes and enforcing tax laws, has turned to private debt collectors to assist with certain tax debts. This move has stirred debate, with some questioning the IRS's intentions. Let's dive deeper into the two main reasons the IRS cites for...
FinCEN Beneficial Ownership Reporting is a rule that intends to make financial dealings clearer and stops illegal activities like money laundering, funding terrorism, and avoiding taxes. This rule, required by the Corporate Transparency Act (CTA), became law in 2021 as part of...
Credit cards, personal loans, and even some student loan debt can be consolidated. It can be a great way to take control of your finances and reduce the amount of interest you pay. Consolidation can help simplify your debt payments by combining multiple high-interest debts into...
Cannabis users in Nevada pay a 10% excise tax and a 6.85% sales tax. If the user is a patient and the product is for medical purposes, then the excise tax is waived as long as the patient has their card. However, you should know a ton of other information about cannabis in...
Nevada has many tax benefits, most notably the lack of state income tax. If you own property, though, you may be able to get some relief from capital gains taxes on the sale of your main home as well as taking advantage of some of the country's lowest property taxes. If you're...
Winning a car will be taxed at fair market value, usually around 30%. So if you win a $45,000 car, you'll likely owe approximately $15,000 in taxes. Those taxes don’t include maintenance, insurance, or the initial costs of getting the car set up with the DMV, like tags and...
The easiest way to get a Nevada tax ID number is to apply on the Nevada Tax Center website. You'll be required to fill out an application, but the process is straightforward. Starting a new business can be a bit scary if you've never done it before. But Nevada wants more...
Sales tax in Las Vegas, Nevada, is 8.375% for 2022. There are no state income or estate taxes. Property taxes are among the lowest in the country, sometimes as low as .5%, while taxes on alcohol and cigarettes are a relatively high rate compared to other states. Taxes are...
The current sales tax in Orange County, California, is 7.75%. Taxes break down to federal, state, and local levels. So the total you'll pay can vary from city to city within the county. However, there shouldn't be any large swings in this rate. How is all of this figured out?...
The IRS may reject your return if you forget a W2 on your taxes. In the event this happens, you can add the forgotten document and refile it. In some cases, the IRS may accept the initial filing. They're a busy and understaffed agency. Unfortunately, they don't have the...