by Karla Dennis | May 16, 2014 | Blog
Plan Every business has made a plan or some haven’t. But are you sticking to it? We can all get over consumed in our practice. But take a step back and look at the big picture. What do I need to accomplish? Am I on the right path or do I need to make some strategic moves to get to that point? Be intentional in planning and make sure you lay everything out and create a step by step goal of what needs to be done. The best plans have deadlines and they are met. Technology In this day in age technology is growing but that might be a good or bad thing for business. I say embrace technology. There are so many system to speed up the business process and make your business operate smoothly. You can cut down on time and pump our more work. With great systems you can take on more clients and create a great experience without the headache. read...
by Karla Dennis | May 15, 2014 | Blog
As a business owner do you know how to successfully manage the money that your business is making? If you have profit in your business, it increases the value of you business. Are you aware that if your business is cash poor, it can keep you from obtaining loans, purchasing new equipment or buying other items that are needed for your business? One of the essential things you need to know and understand as a business owner is how profitable a sale can be for you and to get the cost of a sale under control. read...
by Karla Dennis | May 14, 2014 | Blog
When you get a letter from the IRS, what should you do? Don’t worry! Most people start to panic and think they should call the IRS right away. Please, please, please don’t respond right away, contact your tax professional and let them respond. Why? Because almost every letter allots 30 days for you to respond. Just don’t panic. Contact...
by Karla Dennis | May 13, 2014 | Blog
Being out of work is stressful enough without having to worry about tax resolution. The good news is that there are actually quite a few secrets to make that job hunt work for you. Did you know that all the expenses from your job search can be deducted from you taxes during tax resolution? That means all the travel and entertainment can be deducted. Even the business cards you print up to help you find work can be deducted from your taxes. There is one catch to all those deductions. You can only deduct up to 2% of your income. Some people choose to work at home while looking for other employment and this strategy can benefit your tax resolution. If you can claim sole proprietorship of your business and are making a profit in this line of work, there is no limit to the business-related deductions that you can take from your income. Another tax resolution strategy for those who find themselves dealing with the financial strain that comes with job loss is to deduct all of your medical expenses. Unless you can claim sole proprietorship status (which allows you limitless deductions) you can only deduct up to 7.5% of your total gross income. There are a lot of people that try to deduct their home office off of their taxes, but this often doesn’t work because you would have to prove that your office is used exclusively for work. Most people don’t have a space in their home that would be used exclusively for work so it isn’t normally a tax resolution strategy you can apply. Finally,...
by Karla Dennis | May 11, 2014 | Blog
If you are a business owner one of the most important things to keep focused on is why you are in business. At the end of the day, it is always about making money and turning over that profit. In this video Karla will go over five tips to look at as business owners or investors to help you stay focused on making a profit. If you visit http://ReverseProfit.com, you can find out what you should be doing to get your business up and...
