by Karla Dennis | Jun 7, 2015 | Blog
Do you dream about financial independence, but struggle to believe that it’s actually possible for you? Are the bills piling up in your household? Do you fear the financial obligations that come with the next thing to go wrong in your home? Thankfully, there is hope. According to USA Today, nearly 2/3 of Americans are in debt. Of those, nearly half have stopped paying one or more of their credit cards. Yet the situation is far from an impossible one to overcome. You can achieve the financial independence you deserve if you know the right choices to make and you’re willing to believe that you can do it! read...
by Karla Dennis | Jun 1, 2015 | Blog
If someone will suffer financially when you die, chances are you need life insurance. Life insurance provides cash to your family after your death. This cash (known as the death benefit) replaces your income and can help your family meet many important financial needs like funeral costs, daily living expenses and college funding. What’s more, there is no federal income tax on life insurance benefits. Most Americans need life insurance. To figure out if you need life insurance, you need to think through the worst-case scenario. If you died tomorrow, how would your loved ones fare financially? read...
by Karla Dennis | May 19, 2015 | Blog
Karla Dennis And Associates, Inc.™ main focus is to ensure your rights are properly protected and invoked when dealing with IRS or any other taxing authority. Do you know your rights as a taxpayer? As a US Tax payer you should always know your rights to make sure everything that you do or the IRS does is in compliance. See below a list of rights you have as a taxpayer below: The Right to Be Informed Taxpayers have the right to know what they need to do to comply with the tax laws. They are entitled to clear explanations of the laws and IRS procedures in all tax forms, instructions, publications, notices, and correspondence. They have the right to be informed of IRS decisions about their tax accounts and to receive clear explanations of the outcomes. read...
by Karla Dennis | Mar 30, 2015 | Blog
Eight Facts on Late Filing and Late Payment Penalties April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. By law, the IRS may assess penalties to taxpayers for both failing to file a tax return and for failing to pay taxes they owe by the deadline. If you need me to file an extension for you, YOU MUST COMPLETE THE ATTACHED FORM AND SEND BACK TO PROCESSOR@KARLADENNIS.COM. Here are eight important points about penalties for filing or paying late. read...
by Karla Dennis | Mar 24, 2015 | Blog
How to Write Off Practically Anything When it comes to tax deductions, there are a few schools of thoughts. There are the people who want to write off everything, whether it’s legal or not, and figure the cost of an IRS audit won’t be that bad. Or they think they can’t ever get caught and their invisible, or so they think… That’s group #1. Group #2 is the group who doesn’t want to write anything off. In fact, I’ve had some clients who tell me at the beginning of a consultation that they want to purposely overpay their taxes. If the tax due is $10,000, they’ll write a check for $11,000. They figure that will keep the IRS away. The IRS doesn’t take bribes. This plan doesn’t work. read...
