Hi! I'm Karla Dennis, Americas Tax Advisor. I am also the founder and CEO of KDA Inc - kdainc.com
On this channel, I invite you to join me in becoming financially free. I teach strategies to reduce your tax burden all year long and business strategies to maximize your profits year over year! Lord knows how tired you are of being overtaxed, overworked, and stressed out about what the best tax strategies will be for you, your family, and your business.
Luckily, Karla's got your back on all things tax, business, and more!
I am providing you the strategies on how to reduce your taxes, manage your finances, and build wealth.
Subscribe and Turn on post notifications so you do not miss out on any of my videos. Let's Get after it!
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I wonder if she is related to Karlton Dennis( Tax Professional)? 🤔
Karlton is my son
That's Krazy...I follow your son heavy. You're the GOAT momma Dennis! 🤗
@@mrtravismarley thank you so much.
Thank you for the knowledge and motivation!
You are always welcome : )
❤
Why don’t you mention that registering in another state can save taxes?
Ok. But... how do you do this... like where do you go
Which part specifically?
@@KarlaDennis how do you submit your 1099. Like where to you go to submit it. This video showed tips and tricks with optimizing your taxes, but not how to actually do it
thank you so much Karla!!
Thank you
You're welcome
good video with good advice
Thank you so much, glad you liked it and i appreciate the feedback.
@@KarlaDennis You are welcome. We set up an LLC in April of this year and now all new LLCS must file a fincen report that shows who the beneficial owners are.Existing LLCS have until January 1st to complete this new paperwork. We were told like 60 days.We found it difficult and time consuming. Big penalties if this is not done by the due dates.My guess is that the IRS..read government .. is attempting to crack down on money laundering of "phantom" ownerships. I don't know if this topic is something you would want to discuss on your channel but your subscribers would find it beneficial.
❤🎉😊 The Lord Jesus Christ Bless you 🙏 !!
How about LLC that elected Scorp, should they wait till their Scorp election is approved by the IRS or start taking payroll right away?
Thank you so very much❤
Happy to help. You're very welcome.
Yesss every business needs a bookkeeper!
Not sure about this... I've known folks who did not learn much from taking gen ed courses at a community college... Also with AI winding up to replace college degrees. Not sure it's even worth going to college anymore. Let's say I get my degree and I'm now working, eventually, I'm gonna be replaced by AI anyways... not paying a dime for college education in the age of AI
Everything she just said is to make her job easier. It’s to make sure the IRS is happy it’s not in your favor. She was trained to make sure the irs is happy by a school that was paid by the corp. government to make sure they get there cut. This is not the type of account you want. You want an account that works for you not a third party private trust owned company in a different country. (irs) who’s not even part of the American government. The IRS is ran off of extortion illegally, paying bribes to the government to enforce the rules they put forth.
This is completely incorrect. I DO NOT work for the IRS... In Fact my goal is to teach everyday tax payers and business owners how to REDUCE their tax bills... The IRS is looking to Collect as much as possible.
Y’all don’t act like you don’t see a ring on her finger and she saying she had not 1 not 2 but 4 boys go through college 🙌 🍾 let’s go!!
Indeed! Thank you lol
I've been telling young people to get into the trades. You can be making a good living with no student debt by the time your peers are graduating with a bachelor's and being told they need a master's to be competitive. The opportunity to start your own business is also there in the trades. If you don't want to go the trades route, work as a cashier for 6 months and start applying to bank teller positions and work your way up from there. If you want "the college experience" just go get blackout drink and have promiscuous s*x. Same thing.
Exactly, Its all about finding your passion and knowing your options. My issue is the perception that if you do not go to a 4 year college right out of high school that you will fail... Just not the case. : ) Thanks for your feedback.
Get the money you need for college, pay using credit card snd immediately pay back. You will get tons of of cashback or points.
Get scammed then you'll get a scholarship
For those wondering, the answer is credit card. Although a credit card may have a higher interest rate and more payments over time, in a worst case scenario, credit card debt is dischargeable in bankruptcy. With student loans, they can easily garnish wages, and they take your money until you fully pay them back or you die
This is probably some of the worst financial advice ive ever seen. Bankrupcy is awful and will ruin your financial life. There is also a high chance that a debt collection company takes you to court over such a high debt, and garnishes your wages anyways. Student loans have lower interest rates, longer periods, and federal loans can be put through student debt forgiveness programs.
This is a pretty wild take, but i appreciate the discussion lol
Why does she have so many teeth?
PNL
Pay 0 Taxes but you cannot buy not even a bike tire on credit based on your income
What do you mean?
OMG…Ms,Karla I’m a business owner i do emergency roadside i had no idea on this info you are sharing. you are a amazing person ….Thanks 🙏🏾 I will be subscribing,Millionaire💯
So happy to help!
Liked, commented and subscribed! Thank you!
Thank you!
😮 I just now found you lol
Welcome 💃🏾
This was very helpful. Thank you
You're very welcome. Happy to help!
Nice I just learned about the four pillars of financial literacy. 1. Debt 2. Budgeting 3. Savings 4. Investment Thanks for helping stand out.
Glad it was helpful! 😅
Legally 14 yrs old that's why there's child labor laws to keep children from being abused and forced to work. "Federal Work Hour Restrictions Minors 14 and 15 years of age can work: 3 hours on a school day 8 hours on a nonschool day 18 hours in a school week 40 hours in a nonschool week Minors 14 and 15 years of age may: Not work before 7:00 a.m. Not work after 7:00 p.m. (extended to 9:00 p.m. June 1 through Labor Day) Not work during normal school hours Minors 14 or 15 years of age who do not attend school (home schooled, married, excused from school, etc.) are subject to the above restrictions. They MAY NOT WORK DURING THE HOURS THE LOCAL SCHOOL SYSTEM IS IN SESSION."
You have never seen a baby in a movie, commercial? Never seen a kids movie with kids under 14?
I thought the age was 6..
Nope, just needs to be reasonable compensation and a reasonable job title. for example you cant hire a 3 year old to help with data entry on a computer because thats probably not possible, but you can maybe hire them to help with straightening up your work station. Thin about babies are sometimes newborns in diaper commercials. they are being hired and paid, they are well below the age of 6. Again just needs to be reasonable job description and pay.
We dont have to do capitalism, a system that needs poor people
Oh my god, what? No. This shouldn’t even have to be said. Don’t “hire” your kids when they’re 3. So you can what, “pay them” but really you keep the money and the tax benefits for yourself?
It's mostly to be able to start an IRA. I was hired by my mother as a preteen, and it helped me learn about money first hand and I some money in the bank.
Keep the money yourself? lol no, that is not at all what i am saying.You can pay your child up to $14,600 per year tax free, without them having to file a tax return for it as long as you stay under that amount. You can put that money you pay them into an IRA for them or a savings account. AND you as the parent/business owner will be able to deduct what you paid them from your taxes as well. Its okay to not know and have questions : )
@@KarlaDennis yeah…. And a 3 year old is responsible for their own money??? Lmao. You cannot hold your own IRA until you’re 18. So you as the parent control that money. So, the answer is yes. You “pay them” just to have control over the money you “paid” your kid. You are legally responsible for all the money you have “paid” your kid and put in their IRA. And yes, benefit from the tax write off too. Don’t talk down to people like we don’t know shit 😂 You literally just restated exactly what I said in my comment. But almost worse 😂
Love that face 💦
Come on everybody we must contribute our every dollar earned to make up for All the money sent overseas banking😂
Thank you!
So welcome : )
Thank you for the insight! Definitely will document, document, document and take lots of pictures! 😊
Wonderful! And you are so welcome : )
Millionaire.
Sheesh what about my boy Karlton.. never knew about this guy until today he must be the baby
Haha. He is the baby. They are all my favorites. Lol
Haahahah . You are smart and sharp. The shook the head end of video like people do in india. !
Thank you
Can you share the calculation for the "(by taking $2,500 per year as a tax write off)" using the simple method?
Great question! Here is our link to book a free consultation and answer all your questions. kdainc.com/book-a-consultation/
If I pay someone to service my business a/c twice a year, can I write that off as professional services?
Great question. Here is our link for a free consultation! kdainc.com/book-a-consultation/
I missed so much of this on my taxes this year. Durn it!!
You can always redo your taxes! It is called an amended return.
Thanks so much for the info
Happy to help.
Love that you and your son share this information.. Just magical
Thank you so much! It's important for us to pass on the knowledge we learn : )
Then it has zero to do with your personal taxes. The deduction is for your business taxes. Your use for non business purposes is personal taxable income. Go to a real accountant instead of KZread
Lots of info, thank you!
Happy to help!