If you’re even thinking about buying a home in Incline Village, Nevada, you owe it to yourself to explore some of the benefits of Nevada homeownership.
This is especially true if you’re a little short on cash or you just like the idea of letting potential tax savings help finance the purchase of your Incline Village home.
Regardless of whether you’re retired, work for a company as an employee, or you own your own business, the state of Nevada has put the pieces in place to help you elevate your financial standing — maybe faster than you might think.
If you live in a state other than Nevada, there’s a pretty good chance that you’re used to state government sticking their hand in your pocket through excessive taxation, user fees and other citizen-provided “revenue enhancements”.
If you move to Nevada and buy a home in Incline Village, you’ll be pleasantly surprised by how much of your income you keep. Nevada has no state income tax. Zero. Zilch. Nada.
Most states have state income taxes on individuals and businesses. If you live in California, I sympathize with the crushing pressure of high individual and corporate income taxes. Regardless of which state you currently call home, there’s an excellent chance that you pony up personal or corporate income taxes that comes out to thousands (or tens of thousands) of dollars each and every year.
When you choose to live in Nevada and buy a home in Incline Village (the best place in Nevada to own a home in my humble but accurate opinion) you set yourself up for a massive list of Nevada tax advantages such as:
If you currently live in just about any other state in the U.S., you’re being taken to the cleaners at tax time. This we’ve already established. But did you know that an argument can be made that your Nevada tax savings could help you buy your new home in Incline Village?
I’m not saying a Brinks truck will pull up in front of your home and begin offloading cash just because you move to Nevada or buy a home in Incline Village… although it might kind of feel like that.
Taking advantage of Nevada tax advantages lets you keep more of your money in your pocket. Those savings add up — forever (or as long as you remain a resident of Nevada). Let’s pretend that the amount of your income taxable on a personal level is $200,000 (after permissible deductions). Here’s the amount you could save each and every year based on the following state income tax rates that you could be paying right now:
As you can see, the tax savings could be substantial. How you apply these Nevada tax savings to the purchase of an Incline Village home is completely up to you. The reality is, you could use those savings to help pay your mortgage, in effect making your cost of ownership in Nevada even less.
Or it could help you to purchase an even nicer home than you otherwise might.
The choice is entirely up to you.
I’ve painted a pretty compelling picture of some of the tax advantages that come along with living in Nevada.
I’m sure you’re intrigued.
You might even be ready to take a look at a few of my Incline Village home listings or to talk with me now. You can give me a call at (775) 339-1144.
Tesla’s mission is to accelerate the world’s transition to sustainable transportation. To achieve that goal, we must produce electric vehicles in sufficient volume to force change in the automobile industry. With a planned production rate of 500,000 cars per year in the latter half of this decade, Tesla alone will require today’s entire worldwide production of lithium ion batteries. The Tesla Gigafactory was born of necessity and will supply enough batteries to support our projected vehicle demand
Tesla broke ground on the Gigafactory in June 2014 outside Sparks, Nevada, and we expect to begin cell production in 2017. By 2020, the Gigafactory will reach full capacity and produce more lithium ion batteries annually than were produced worldwide in 2013.
In cooperation with Panasonic and other strategic partners, the Gigafactory will produce batteries for significantly less cost using economies of scale, innovative manufacturing, reduction of waste, and the simple optimization of locating most manufacturing process under one roof. We expect to drive down the per kilowatt hour (kWh) cost of our battery pack by more than 30 percent. The Gigafactory will also be powered by renewable energy sources, with the goal of achieving net zero energy.
The name Gigafactory comes from the factory’s planned annual battery production capacity of 35 gigawatt-hours (GWh). “Giga” is a unit of measurement that represents “billions”. One GWh is the equivalent of generating (or consuming) one billion watts for one hour—one million times that of one kWh.