by Karla Dennis | Mar 24, 2020 | Blog
Covid 19 has taken us all by surprise, but please rest reassured Karla Dennis and Associates Inc is still FULLY Operational. As a company, we have an emergency response plan. We deployed it and our team is working remotely preparing tax returns, answering calls, holding online appointments and do all the things you need to be supported during these trying times. We will ensure that your taxes are timely filed and any other business needs you have are met. Our remote team is in place using the technology we use in office every day to ensure our operations are functioning and we can meet your needs. Here is a recap of things we are doing to serve you, keep you safe and keep our staff safe. read...
by Karla Dennis | Mar 13, 2020 | Taxes
Do you run an Etsy shop or sell jewelry in your spare time? Have you always dreamed of turning your hobby into a business? If so, it’s important to realize that the IRS has specific tax rules about this type of enterprise. Before you take the leap from hobby to enterprise, consider the following to help you stay compliant: If the IRS classifies your business as a hobby, you have to prove a valid profit motive if you want to claim related deductions. If your business claims a net loss for too many years or fails to meet other requirements, the IRS may classify it as a hobby. For tax years beginning in 2018, this will prevent you from claiming any hobby-related expenses against your hobby income. read...
by Karla Dennis | Mar 6, 2020 | Business
Due to the rise of social media apps and content, many people are now relying on social media to help build their small businesses. Many people have started their business on platforms such as Instagram and Facebook. Although it can be easy to start, the hard part is getting followers and standing out from the crowd. To stand out and have a style that represents your brand, you’re going to need a few essential apps to help you fulfill your small business vision. Canva: If you need to make flyers, posters, Instagram posts, or any photos at all, Canva is the go-to for most social media users. Canva is easy to use and has many templates that can fit any look you may be going for. This app can be used on computers and mobile phones, making it easy to access no matter on what device. Available on both IOS and Android, it’s easy to share and accessible for anyone in the business. This app is also easier to use than other more advanced apps such as Photoshop or Adobe. Canva does have some premium options, but other than that, it is free to use. Canva also makes it easy to download your creations and share them on all social media platforms. read...
by Karla Dennis | Feb 27, 2020 | Money
It’s never too early to start teaching your children the value of a dollar. Money is something that they are probably exposed to every day and will use every day in the near future. Building a good foundation for your children is vital to their success as adults, and what better topic than that of money. Children must begin to understand that the things they own have been acquired through work and dedication. As a parent, you may need some ideas on how to start this process. Talk to them about your job, home, cars, and food. Your children may already know a lot more than you may think. It’s essential to explain to them what it is you do every day and why. This can lead to you telling them about how money works, what you can buy with money, and why it’s important. An excellent way to do this is to explain to them that you pay for their home, food, etc. Explain to them in a way that they can understand. Explain to them where you work, what it is you do, and why. This may be very hard for your children to understand, but eventually, they will be more and more exposed to the idea of jobs and money. read...
by Karla Dennis | Feb 20, 2020 | Business
If you left your office in disarray before the holidays, you’re probably not the only one. However, a cluttered workspace can hinder your productivity. As you ease back into your regular work routine, take an hour to apply our tips to help you clear out, clean up and create space for a new year. It’s time for office organizing 101. 1. Purge your papersAs you work to tame the paper piles, be sure to think through how you can reduce the amount of paper you generate in the first place. After all, we do live in the digital age. Ask yourself: Do I need to print emails? Can I scan documents and receipts instead of keeping hard copies? While you are at it, remember to shred any documents that contain sensitive information read...
