by Karla Dennis | May 1, 2014 | Blog
If you are a business owner do you know why you should reassess your business entity type annually? It could potentially save you money on your tax bill. Listen as Karla explains why, by simply meeting with your tax professional on an annual basis to review your tax situation, business entity type and whether or not you should switch to a different business entity, you could potentially save yourself thousands of dollars off of your tax...
by Karla Dennis | May 1, 2014 | Blog
Have you ever tried to hire the wrong person for a job? It could be very frustrating if you tried to hire an electrician to fix a leaking sink, and it is the same with tax preparation. There is a right person, computer program, for the job. It is just a matter of figuring out whether a tax preparation specialist or a computer software program would be right for your needs. Using tax preparation software has many advantages. It is quick to use. Most taxpayers find that they can file their taxes and send them electronically in about an hour. A tax specialist will oftentimes take up to a week to get your taxes ready. It should be no surprise that tax preparation software is going to be cheaper than a specialist. You will usually pay $20-$140 for tax software. There are even websites that offer the software for free. For taxpayers that have few deductions and only have a one or two sources of income, tax preparation software could be a perfect option for you. It’s when you get into wading through the taxes for multiple investments that things could get a little bit dicey. As mentioned above, a tax preparation specialist is generally more expensive, but you do get what you pay for. Your tax preparation specialist is there for you after your taxes are filed. They can help you with financial planning so that you can begin a tax strategy that will save you money in the future. If there is a complicated issue with you taxes, you will be able to work with tax preparation...
by Karla Dennis | Apr 27, 2014 | Blog
If you have yet to choose a tax professional there are a few things you want to look out for when choosing one. In this video Karla discusses why it is imperative that you work with a professional that is just that, a professional. Do your homework before choosing a tax professional because it will pay off for you in the long run; know who you’re working with to get the peace of mind and services you deserve when it comes to your...
by Karla Dennis | Apr 27, 2014 | Blog
Tax season can actually be fun when you find out that you are eligible for a refund, but there are ways you can make the most of that check. Your tax preparation expert offers four useful places to put that refund check that will actually pay off. A CD is a form on investment that offers interest on your money, usually over the course of three to ten years. With an investment as small as $3000 you could see a return as big as $310 in only three years. If you choose a 60-month CD, the return would be $650. Your tax preparation expert encourages finding ways to make your tax return money work for you, and a CD is a low-risk investment with considerable returns. Supplementing your retirement is also a solid investment. If you have a 401K, your tax preparation expert would suggest putting the money into that kind of investment because it will be tax deductible the next year. Another place to put that return check is to take down some debt. Most Americans carry some form of debt which includes debt from car payments, credit cards, or even debt to family. Your tax preparation expert suggests whittling down some of this debt because it will increase your financial freedom. Many people don’t consider putting their refund checks into their mortgage payment, but your tax preparation expert knows that it is solid investment. Every time that you pay your mortgage, you have to pay interest on the money that you owe. If you cut the money that you owe down, you will be able to pay...
by Karla Dennis | Apr 24, 2014 | Blog
Karla goes over a few of the different items that were included in the extender law recently. Many of these are beneficial to homeowners that are selling their home or making energy efficient improvements to it. There are also tax benefits and write offs available for those that have purchased and are making improvements to commercial property. Listen as she goes through these items and explains how they could potentially be beneficial to...
