by Karla Dennis | Jul 13, 2014 | Blog
If you invest in real estate there are many different tax strategies that you can implement into your tax plan. From a tax perspective you can’t go wrong with investing in real estate because, across the board, there are a number of different benefits to take advantage of. Listen as Karla discusses some of the tax strategies and advantages of not only owning, but investing in, real estate and how they can help mitigate your tax...
by Karla Dennis | Jul 10, 2014 | Blog
Many business owners fly by the seat of their pants when it comes the financial aspect of running their business; one thing they don’t think a whole lot about is cash flow. Karla wants to help you, as a business owner, get from red to black and get profit moving in your business. Having at least 90 days of working capital on hand is recommended to sustain yourself if you’re a business owner. Listen to find out more about how you can successfully get the cash flowing back into your business. read...
by Karla Dennis | Jul 8, 2014 | Blog
Do you know what tax bracket you are in? Many Americans may not know what tax bracket they find themselves in, but that doesn’t mean that you can’t establish a strong tax strategy. A recent survey suggested that Americans pay, on average, 11% of their income to the federal government, but that doesn’t mean that is what you will plan on paying. In fact, some people will pay less and others will pay up to 30% of their gross income to Uncle Sam. The good news is that there is a way to hone your tax strategy so you can pay the least amount of taxes possible. First, your tax strategy should include savings that allow you to defer taxes. Savings like a 401K, health savings accounts, or even IRA’s allow you to defer the amount of money that you pay in taxes. Another good tax strategy is to manage all of your gains. Don’t allow those charitable donations and other tax deductible items pass you by. Take advantage of all the savings that you can to reduce the amount of money you have to pay to the federal government. Finally, you can reduce your taxes now with savings accounts that allow you to pay fewer taxes. Talk to your tax professional about all of the ways that you can reduce your tax burden as part of your tax strategy. When you create a tax strategy that considers all options, you can do a lot to reduce your overall tax debt. It involves having good timing and keeping people on your side that understand tax strategy. They can help...
by Karla Dennis | Jul 6, 2014 | Blog
In a continuous conversation discussing four keys to opening the vault to your cash flow, Karla discusses tax minimization and the importance of having regular, honest conversations with your tax professional. She also shares a recent story of how having a conversation about life’s current circumstances helped saved one customer thousands of dollars on their tax bill. If you work with an experienced tax professional to strategize and maximize all of your tax benefits, you can successfully open the vault to your cash. read...
by Karla Dennis | Jul 4, 2014 | Blog
We live in a technology age. Everything is on computer. Our information has to be protected so it becomes increasingly important to keep your eyes peeled for scams. Especially around tax season, there are a variety of scams dealing with tax strategy. Understanding some of the red flags behind these tax strategy scams can help you avoid a lot of heartache. The first very common tax strategy scam is for people to try to get a hold of your tax return. This scam can come in the form of someone offering to prepare your taxes for next to nothing only to change the address so the return is sent their way instead of to your mailbox. To avoid this scam, you should never give information to anyone that isn’t an accredited tax professional. Don’t allow your papers to be sent without you double checking all of the information. Another common tax strategy scam is for someone to try to use your tax information as a form of identity theft. When you are preparing your taxes you have to realize that the information you include on tax forms is confidential information. You should always shred all information that has to do with your taxes, and, if you suspect any form of identity theft, you should report it immediately to prevent more problems. Most of the time, you can spot a tax strategy scam because the person is trying to bring you in with a deal that is too good to be true. If it seems like it is too good of a deal, it probably is. For example, many scammers...
