By Pat Kerfoot, Special to bizNEVADA Since it was signed into law by President Roosevelt in 1935, Social Security has become an important feature of retirement planning. Social Security provides the majority of income to most elderly Americans. For almost half of seniors, it provides about 50% of their income. For 20% of seniors, Social…
By Toby Tatum, Special to bizNEVADA In my capacity as a Certified Business Appraiser, I have had many engagements to value a business in order to determine the purchase price for the ownership interest of a departing business partner or non-employee stockholder. In every case, these were small, locally-owned businesses and in every case, the…
By Gayle McKearin, Special to bizNEVADA Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age 70½ (or, in some cases, after you retire). You can always withdraw more than the…
by Jeremy Thuveson Buying a new home can be very exciting. However the mortgage process can be overwhelming; seeing the paperwork and numbers that cause stomachs to drop, coining the phrase “sign your life away.” Some may concede in negotiating, others do not know they can. Generally, people want to be in their new home…
What you should know about the changes in the Tax Law By Brent Forbush, Special to bizNEVADA The Tax Cuts and Jobs Act (TCJA) contains a treasure trove of tax breaks for businesses. Here are the most important changes in the new law that will affect businesses and their owners. New 21% corporate tax…
by Scott Menath, Special to bizNEVADA Many people watched the news with horror as Hurricane Michael swept through Florida and Georgia last month. How could anyone defend themselves against this threat? The impact of the hurricane’s sustained 155 miles per hour winds was almost complete in its devastation of Mexico Beach, a shoreline community…
by Corrine Casanova According to the U.S. Small Business Administration(SBA), over half of the U.S. workforce either owns or works for a small business. In fact, small businesses create two out of every three net new jobs in the private sectors. Rachel Dahl, a sixth generation Nevadan, has been the Senior Area Manager of…
by Craig A. Ruark Nine states in the U.S. have legalized marijuana for recreational and medical use and an additional eighteen states allow legal medical usage. However, the problem is that marijuana is still considered a Schedule I Controlled Substance by the Federal Government and therefore money generated from the cultivation, testing, processing,…
by Evan Dickson, President, Nevada State Development Corporation The following seven myths and facts refer to the U.S. Small Business Administration (SBA) Commercial Loan Program. MYTH 1: It takes four to six months to get a loan approval. Fact: You can obtain an SBA approval as quickly as ten business days. Tip: Provide your lender with a complete…
By: Craig A. Ruark A loan is a loan whether it is a government-backed SBA loan, a secured equity loan through a bank, or a personal loan through an associate, each of them has a principal and interest amount that must be paid back, either in a lump sum or over time. Many times,…
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