by Karla Dennis | Sep 2, 2013 | Blog
If you are like many adults you dread the thought of tax day rolling around every year. Taxes seem to be one of those things that is out of sight out of mind for many people who are concerned about their tax consequences. One way of changing your perception about the tax process is by having a proper Tax Strategy for yourself throughout the year. Tax code is constantly changing, and is confusing to begin with, so having a experienced professional who can help you develop the best Tax Strategy year over year can be a very valuable asset. This is because throughout the course of a year you could be missing out on several tax deductions or savings simply by not having a Tax Strategy. For homeowners, this could mean missing out on tax savings after making major renovations to your home or installing energy safe windows. For those in this country with some form of long term debt, whether a mortgage or student loans, those monthly payments could have value for you everytime tax day rolls around. Even simply being a parent can include numerous tax saving opportunities for you. In reality, every time you make a large purchase, pay a medical bill or bank note you should consider whether it could have some kind of tax benefit to you. And with the help of a Tax Strategy you can plan for these types of purchases over time. It might make sense for you as a taxpayer to hold off on home repairs for a year or buying that new water softener for your home. If you...
by Karla Dennis | Aug 30, 2013 | Blog
Do you have nightmares about last year’s tax season and how unorganized you were with regards to your taxes and planning? You should know that there are different tax strategies that you can put into place to help you avoid the disastrous affair that was getting your taxes done last year. If you are looking for a professional to help you come up with a few different tax strategies you can always enlist the help of Cohesive Tax, a nationally known tax firm that specializes in tax strategies and planning. As you may have noticed when getting your taxes completed last year, it is probably a good idea to have a tax strategy in place before tax time; there are many different benefits to having a tax strategy in place for you and your family. One of the biggest tax strategies that many individuals benefit from is the fact that you can receive tax deductions you may not have been aware of. When working with a tax professional, they can help enlighten you as to what deductions you are eligible for. In conjunction with an increased amount of deductions, with a tax strategy you have a lower tax bill; this allows you to allocate your money to more important things like remodeling your home or saving it for your children’s future educational needs. Lastly, when you come up with a tax strategy for your family, it is tailored to your specific needs. There are no two tax strategies alike, which is a good thing. You can be assured that when working with a tax professional to create a tax...
by Karla Dennis | Aug 29, 2013 | Blog
Hello everyone my name is Karla Dennis and I am the CEO of Cohesive Tax Services licensed in all fifty states to help you with your tax needs. I use this blog to help change the mind set of both individuals and small business owners in regards to their tax preparation. At Cohesive Tax we aim to educate you on the benefits you may be missing out on when it comes to tax preparation. Far too often people hire someone to simply prepare their taxes. Some people even handle their taxes themselves and mail it in when finished. Given the constantly changing economy and the roller coaster that is the real estate market you could be missing out by not utilizing an experienced tax professional. Those every day expenses are just part of your normal routine but they could be saving you money. Having a tax professional who wants to help you make the most money through tax preparation can even help you be better prepared. Far too often we do not look at our pay stubs or the income we earn and consider how to keep more of it. We often assume that this is simply not an option. The tax professionals at Cohesive Tax want to take you to the next level when it comes to how you perceive your tax situation. When you choose a doctor to treat your aches and pains it is someone who can explain what’s wrong and diagnose the problem to prevent it from happening again. When choosing a tax professional this same mentality should be used. If you are a small...
by Karla Dennis | Aug 28, 2013 | Blog
oday we’re going to talk about strategic tax planning. Here at Karla Dennis And Associates, Inc.™, one of the goals for my clients is that we’re being proactive and not reactive. January thru April is the tax filing season and that’s where you have reactive planning. At KDA we want to be very strategic and proactive and want to start your planning from January thru December of the current year. Individuals that plan reduce their tax bill by a minimum of $4800. In order to plan, I really need to get to know you. We want to understand you and what’s going on in your life; if you’re completing a short sale, going through a divorce or have children going to college. It’s very important to understand your unique goals, not just for today but for a few years down the road. If you’re starting a business and you’re writing down your income, but need to refinance your property? Knowing this upfront is so key to helping you reduce your tax bill and reaching your financial goals. read...
by Karla Dennis | Aug 27, 2013 | Blog
If you are in a situation that requires Tax Resolution it is important to know that you have help. If you have not filed a tax return in some years it can be a very stressful time while dealing with the constant contact from the IRS or possible debt collectors. Karla Dennis And Associates, Inc.™ have years of experience and want to help you get back on your feet. While any situation that requires Tax Resolution will not simply go away working with a tax expert is the next best thing. Having a tax expert licensed in all fifty states like Karla will help get all of your questions answered from the start. Karla and her team are always working to better understand the tax codes across this country in order to assist those that truly need some help. Before you start writing checks for those taxes owed it may be best to look back and see if your taxes were filed correctly in the first place. A tax payer has up to five years to apply for an amendment to their tax return in order to adjust their adjust gross income. This number, commonly referred to as AGI, is what the IRS determines to be your total income for the calendar year after removing all deductions and write-offs. This amount that is determined on your tax form will ultimately decide what tax bracket you will fall in to. Being in a situation that calls for a Tax Resolution is not uncommon in this country and can happen for many reasons. It is important to know that this is...
