Four Easy Steps To Help Build Your Tax Reduction Strategy

Hello everyone Karla Dennis here with Cohesive Tax talking with you today about the importance of having a tax reduction strategy in place. This blog is used to change how you think about your tax situation in order to keep the most money in your pocket after tax day has passed. If you have questions about tax strategy, resolution, or preparation please contact me via my website or call the office to discuss your current state of affairs.

For those of you that have followed this blog you have probably heard me talk about the four main forms of tax strategy. Today I wanted to talk specifically about the tax reduction strategy that can help you the most. This means we are looking to reduce your taxes by simply following my four easy steps. First off, are you taking all the ordinary and necessary business deductions or write offs under code section 162 that you qualify for? This is very important that you take these normal deductions and write offs while also educating yourself on their benefits. Step two involves finding deductions from everyday expenses that are directly tied to your business. Examples of these could include a home office, business vehicles, or employees that are your children and can all help you save on your taxes. Step three is intended to make sure you are maximizing your deductions whether in the short or long term. This will involve expenses or assets that would normally be depreciated that may also have other tax benefits. A good example of this would be a company car. Depending on the condition of the car it could make sense to expense the vehicle as opposed to depreciating it over the years. The fourth and final step revolves around you maximizing your deduction write offs. We can lose sight of these deductions over the course of the year which may be a negative risk to you.

If you have any questions about your tax strategy or to implement these four easy steps please give me a call today. Thanks again for your time and I look forward to hearing from you soon at Cohesive Tax Services.

Karla Dennis

As seen in Forbes Magazine, Karla Dennis is an expert tax and business strategist. As an enrolled agent, Karla is licensed to represent taxpayers in all 50 states. She holds a Masters in Taxation and Business Development and is the author of two books, Tax Storm and Against the Odds.

Karla, CEO of consultancy firm Karla Dennis And Associates, Inc.™, has saved her clients thousands of dollars and has been featured in various media outlets such as Forbes, MSNBC, KTLA, Yahoo! Finance, and SmartMoney, marking her as the ultimate tax expert.

As of 2014, Karla became the new host on the “Mind Your Business” radio show, KTLK AM 1150, sharing her financial and business knowledge with the greater Orange County and Los Angeles areas. As a supporter of women’s rights and issues, Karla is part of the Women Network, an organization built to educate and mentor women. In addition, Karla is the radio host for Women Network Radio, a show that aims to uplift and empower women of all walks of life.