General

We Understand You Want To Keep Your Money

If you are dealing with the IRS, a CPA can help. If the government is hounding you, the main topic of focus is usually money. Although money may not be the most important thing in life, it is definitely necessary. If the IRS decides that you are not paying them what your owe them they will take action. They may choose to garnish your wages or seize your bank accounts.

Both of these situations are not pleasant. The IRS does not know, or care how much your monthly expenses are, they are only focused on getting the money they think you owe them. The lesser of the two evils is probably wage garnishment. The IRS has been known not warn you in advance about wage garnishments. If you owe the them money, be aware of the fact that they may take a percentage of your paycheck. Most likely, they will take a substantial percentage, which in turn, can make it hard to cover your monthly expenses.

Some worry that if their employer sees that their wages are being garnished that they may be looked down upon and subject to termination. According to the United States Department of Labor “Title III of the Consumer Credit Protection Act prohibits an employer from discharging an employee whose earning have been subject to garnishment for any one debt.” In any case, if your wages are being garnished you should seek the aide of an experience CPA. A CPA may not be able to stop your wages from being garnished, but they can help you negotiate a payment plan or agree on the amount of garnishment from each check.

One of the most serious tactics the Internal Revenue Service uses is bank account seizures. If they decide you owe them money, they will take action. Seizing your bank account is a serious action, with huge consequences. They will freeze your account, thus stopping your access to your money. Like wage garnishments, the IRS does not care what expenses you have to pay, they are only concerned with getting their money. If you receive a seizure notice, or your bank accounts are seized you need consult a CPA in Reno, Nevada.

On a side note, the government can and will seize physical assets. These assets include your cars, home, and other personal possessions. If you are having your wages garnished or your bank accountants seize you need help. An experienced CPA will help you deal with the IRS and help you find a middle ground with the IRS.

We Understand You Want To Keep Your Money2019-03-29T11:51:53-07:00

Join Team Evans, Nelson & Company, CPAs for the Northern Nevada Susan G. Komen Race for the Cure

Join Team Evans, Nelson & Company, CPAs for the Northern Nevada Susan G. Komen Race for the CureI would like to invite you to join Team Evans, Nelson & Company, CPAs for the Northern Nevada Susan G. Komen Race for the Cure. I am a new member of the Northern Nevada Affiliate’s Board and so would love to see all of my friends, family and co-workers come out on Sunday, October 2nd to Run, Walk or Sleep in for the Cure!

We are working on getting t-shirts for our team and hope to have a good show at the event for “Team ENCPA’s”. If you would like to join the team, click on the link below and then click the “Join Our Team” link.

CLICK HERE to join the team!

If you are unable to attend the event, but would like to be a part of the team anyway, you can choose to Sleep in for the Cure or you are welcome to make a donation on behalf of our team – all proceeds stay in Northern Nevada! Also, please feel free to forward this to your friends if you think they might be interested in participating.

Please let me know if you have any questions or difficulty registering for the Race – we look forward to contributing our efforts to this very important cause.

Thank you,
Emily Evans Nelson
Evans, Nelson & Company CPAs
50 Continental Dr.
Reno, NV 89509
775.825.6008 phone
775.825.6606 fax

Join Team Evans, Nelson & Company, CPAs for the Northern Nevada Susan G. Komen Race for the Cure2016-09-22T17:00:34-07:00

Business Consulting | Start Up Businesses

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Have you recently opened a business? Are you starting to find some holes, or need help in your processes and aren’t sure how to fix them? A Reno CPA can help you find the best ways to ensure your business adapts to all rapidly changing needs a new business can go through.

Meeting with your CPA quarterly can keep you on track too. Are you aware you have to pay income taxes on an individual basis for your business earnings? What do you need to do with a person who is helping you out–should they be an employee or a general contractor? Understanding the advantages and disadvantages of both will help you make the best decision for your business—and bottom line.

Evans Nelson & Company CPAs is here to help you with these kinds of questions, decisions and choices. Our business experience and knowledge can help you ensure your new business is financially sound with smart choices that will better enable you to manage your business instead of worry about it.

Say it’s Dec 28th and you realize you have a huge tax liability. What can do you do to avoid paying this? Should you delay income, spend more income, or increase your expenditures before the end of the year to save money? Purchasing capital equipment, or a computer you need may help to actually save money, and help keep your business financially sound.

Many new business owners may not know these effective ways to save money, minimize your tax liability, and many other things that can affect the business long and short term, tax wise and financially. Certified Public Accountants can help businesses that have gotten started but really don’t have a good handle on where they can save money and avoid problems. Reno CPAs are here to help move your business forward to that next level of success.

Business Consulting | Start Up Businesses2016-09-22T16:08:55-07:00

Elections & Tax Law Changes

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I often hear people say “Tax laws are constantly changing! How can I protect my business? How can I even keep up with how it will impact my bottom line?”

One of the constants in life is change…and you can be sure there will be constant tax law changes as well! How can you keep up with them all? What kind of impact does an election year have on tax laws?

A Reno CPA or certified public accountant is a huge help to individuals and businesses when dealing with tax law changes. After all, it’s our business to know the information that can help you pay the least amount of taxes and use all the tax advantages in the IRS tax code.

We understand how difficult it can be with all the constant IRS tax code and tax law changes, but at Evans Nelson CPAs, we keep up with tax law changes. Certified Public Accountants are required by law to complete a certain number of Continuing Education classes and seminars. At Evans Nelson, every one of our CPAs goes well beyond those minimum requirements, along with other research to stay informed. It’s our business to advise you and you deserve far more than just minimum requirements.

Whether it’s proposed changes investments in capital equipment–can it be all deducted in the first year–to health insurance deductions, to changes in business taxes, or personal write offs, tax law changes can affect when and how you may want to take certain actions. We help guide you with sound advice based on information from the IRS and our experience and understanding of how these tax law changes will affect your individual circumstances.

Simply consulting for an hour or two with your Reno CPA can save you 10, 20 or even more hours of research and frustration trying to determine what is best for your business, and also help you find the best ways to protect it.

So save yourself the struggle and time consuming research by hiring a professional. Evans Nelson stays informed, so you can focus on your passions.

Elections & Tax Law Changes2016-09-22T16:02:27-07:00

Starting Your New Business

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Are you starting a new business but need some direction? Many potential and new business owners aren’t sure what questions to even ask!

Starting a new business can be exciting adventure or a wide awake nightmare. Think of it as a journey to a place you’ve never been before, while getting there in a borrowed car.

You can try to wing it, maybe jump in the car and just drive. But where do you end up when you don’t have a map to follow? Taking the wrong turn can be painful. Do you really understand the tax consequences of some of the new business choices you are thinking of making?

You may have driven a car before, or even owned another business, but learning and getting answers to questions you should ask before you start, or even while you are on your way, help make any journey (or business) more fun and productive.

There are many frequently asked questions potential and new business owners ask, such as “What business should I choose?” and “What is a business plan and why do I need one?” with plenty of standard answers and advice.

But what about the questions new business owners should ask when they are just starting out? “How much should I pay myself” is a frequently asked question, but the question you should ask is “How should I pay myself?” Or even “Should I pay myself?” How you compensate yourself can have tax ramifications that may be delayed, avoided or eliminated if the propershould askquestions are asked beforehand.

Choosing the right entity during the development stage of your new business can have huge tax implications in the future. A CPA can help you determine the best choice for your business and situation. At Evans Nelson, we have several members of our staff with the business background you need to help inform you of the choices and alternatives. We know what the should ask questions are; determining those answers can help save you valuable time and money!

Get a map for your next adventure. Talk to a Reno CPA with small business consulting experience before starting your new business, ask those frequently asked questions, and be open to the should ask questions–they can help you from getting lost!

Starting Your New Business2016-09-22T15:46:16-07:00

Three Key Facts to Know When Prepping for the CPA Exam

Three Key Facts to Know When Prepping for the CPA ExamScores of colleges and universities offer the chance to major in accounting, because of how versatile the degree is. Indeed, by taking plenty of business courses with a focus in accounting and financial management, you’re diversifying yourself in order to fit into a number of different industries. But just because you graduated with a degree in accounting doesn’t automatically make you an accountant.

Becoming a certified public accountant, or CPA for short, is a benchmark many choose to go on and accomplish, because it greatly increases their employment opportunities. CPAs tend to be in high demand because their services are just as good as those of tax relief attorneys but at typically more affordable rates. Plus, CPAs can provide auditing services to the public, as well. Since becoming a CPA is a significant commitment, here are a few items you definitely need to know before you consider it:

You’ll need a college degree.

Just like you can’t be expected to become a plumber without having the necessary training first, you likely won’t be able to pass the CPA exam without a number of years of college under your belt to lay the groundwork. Your degree track might be very regimented, but take courses in business law and other areas of management, too, in order to get a full education in the field. Then, the real fun can begin.

You’ll need to study. A lot.

The best form of CPA training and practice is to simply bury yourself in books for the months leading up to the exam. The CPA certification requirements always involves successful completion of the examination, which is uniform across all 50 states and in Guam, Puerto Rico and the nation’s capital. Think of it as the bar exam but for accountants and you’ll be able to view in it the appropriate context.

You could benefit from CPA training courses, too.

Familiarize yourself early on with the CPA requirements. If they sound absolutely overwhelming to you and you begin to hyperventilate, it might be a good idea to look into some CPA training classes to help prepare you. The CPA exam is particularly daunting, too, since it’s comprised of four different sections, all of which need to be studied for at great length. Everyone learns differently, and if you think you could learn well in a CPA training course, definitely get involved — sooner rather than later.

The most important thing you need to keep in mind is that passing the CPA exam is an investment in your future. Once you obtain your certification, you’ll also need to amass plenty of on-the-job experience, too, to truly learn how to be the best accounting professional you can be. CPA is just a title, and you want to show your employers how valuable you the person can be to their organization. It takes time, but when it comes to CPA training and preparation, it’s always time well spent.

Three Key Facts to Know When Prepping for the CPA Exam2016-09-22T14:22:00-07:00