by Karla Dennis | Sep 20, 2015 | Blog
In my last post I promised that Strategic Tax Planning can work for you, even if you’re a frustrated newbie. he truth of the matter is that often times Strategic Tax Planners have an ADVANTAGE over the IRS because someone, like me, who understands nearly 80,000 pages of tax code, is in YOUR corner. Because let’s face it- Strategic Tax Planners have the advantage of NOT being “Programmed by the IRS to pay more” – so you can probably build wealth and pay no more than your “Fair share” better than ANYONE. What do I mean by that? Well consider that the IRS’s Internal Revenue Code is always changing. read...
by Karla Dennis | Sep 15, 2015 | Blog
Strategic tax planning is really a proprietary process that I created. It’s a 4-pronged process where I actually go through and I look at the clients’ overall financial situation and I review their past taxes. any times there’s mistakes on their past tax returns; things that could have been done correctly that could have been done differently to save them money. I want to get to know the client, I want to get to know their past tax situation, I want to forecast where they’re going to be. If they don’t do anything, what is their tax liability going to be today? Strategic tax planning allows us discover the best road map for you and your situation. Then, and only then, when I have that benchmark, can I bring the client solutions. These are going to be solutions that are educational-based and that they can understand and implement, because they really have a foundational understanding of how to reduce their taxes. I guide them throughout the process with strategic tax planning, and they begin to see for themselves areas of opportunity to execute on. read...
by Karla Dennis | Sep 12, 2015 | Blog
While many people are underinsured, some of us are carrying more insurance than we need. We may have too much or the wrong kind. here are times when dropping your insurance coverage makes sense. Making unnecessary premium payments is wasteful. Always seek to make the best use of your financial resources. Consider these circumstances: 1. Term life insurance. This type of policy was only intended to cover you for a specified period. It might be until your youngest graduates from college or until your house is paid off. * If your situation has changed and you no longer need the policy, letting go of it might be a smart move. Apply the monthly premium to something else. read...
by Karla Dennis | Sep 7, 2015 | Blog
“If you think education is expensive, try ignorance.” – Derek Bok Let me talk about one of the biggest mistakes that I’ve seen that can cost you thousands; if not tens or hundreds of thousands- even millions of dollars. hen people completely misunderstand the correlation between tax preparation; in relation to tax law and an Internal Revenue Service tax audit on your tax returns; you have squarely placed yourself in danger of that one audit that can take down everything you’ve worked hard for. This is something that I continue to talk about and harp on, but it’s so key; is understanding the level of competency of the person preparing your tax return. Having this awareness will fundamentally mitigate against the risk of tax trouble and a tax audit down the road. read...
