Koffee with Karla

Are you a single member LLC and wondering how to file your income taxes? After watching this video, you will be in a better position to be in good standing with the IRS. In this video we discuss: Single Member LLC - How To File Income Taxes in 2022 Do you have questions about filing income taxes? Let me know your questions in the comments below ⬇️ If you liked this video, make sure to like, comment, and subscribe so we can continue bringing you more videos like these!

Are you ready to file your tax return? If you've made transactions with your cryptocurrency how will you be taxed? In this video we discuss: How Is Your Crypto Taxed? (Know This BEFORE Filing Your Taxes!) Do you have questions about cryptocurrency taxes? Let me know your questions in the comments below ⬇️ If you liked this video, make sure to like, comment, and subscribe so we can continue bringing you more videos like these!

Do you hold cryptocurrency and wondering how to avoid crypto taxes...legally? In this video we discuss: How to avoid crypto taxes...legally by using the #1 crypto tax loophole to help you pay little to no income taxes. Do you have questions about cryptocurrency taxes? Let me know your questions in the comments below ⬇️ If you liked this video, make sure to like, comment, and subscribe so we can continue bringing you more videos like these!

Have your kids asked "what are taxes"? Have you wondered how to teach your kids about taxes? I share how I taught my kids about taxes using simple and effective steps. In this video we discuss: What Are Taxes? - How To Teach Your Kids About Taxes If you liked this video, make sure to like, comment, and subscribe so we can continue bringing you more videos like these!

Do you hold cryptocurrency and concerned about a possible IRS tax audit? In this video we discuss: How to Avoid an IRS Audit of Your Cryptocurrency and what the IRS looks for when they actually do audit a taxpayer who holds cryptocurrency. How are preparing to file your income taxes from cryptocurrency and to make sure you avoid an IRS audit? Let me know why or why not in the comments below ⬇️ If you liked this video, make sure to like, comment, and subscribe so we can continue bringing you more videos like these!

Why do you need an operating agreement for LLCs and S-Corps? Before you form your LLC or S-Corporation it's important to have your operating agreement in place. This document maps our the who, what, when, why and how of your business. An operating agreement organizes who has to authority to make certain decisions like firing employees, taking on debt and more. Do you believe operating agreements are necessary? Let me know why or why not in the comments below ⬇️ If you liked this video, make sure to like, comment, and subscribe so we can continue bringing you more videos like these!

In today's video, we are diving deep into everything you need to know about business partnerships

Hello viewers! In this video I discuss just how tax penalties work and how to tackle these issues or avoid them all together.

Welcome Back! Everybody makes mistakes and that is OK. Here are 3 ways that you can use to AVOID penalties so that you stay in good standing with the IRS. Check out my video "How to Communicate with the IRS" here for more useful tips that coincide with escaping penalties - https://youtu.be/KWEU041i9wM

Welcome back to Koffee with Karla! If you have been watching me for a while now, you know that I am a tax professional - referred to as America's Tax Expert, but many aren't aware that the interests I have now passed onto my boys; on finances and accounting, entrepreneurship and most importantly living tax free, was not originally my interest. Sometimes life takes you somewhere else, and that ends up being your future. So, what I can't stress enough, is DON'T stress too much! You will make YOUR story.

Welcome Back to my Channel! If you are a tax payer, this is information that you NEED to know. These are mistakes that we are seeing many people make. Watch this video all the way through as I will go further in depth on how to prepare, and avoid these mistakes. 1. Not Reporting All of Your Income from ALL Jobs 2. Trading/Selling in Stock Account and NOT Reporting 3. Selling Property

Welcome back, heres some more great tax tips for all tax payers! The IRS is always willing to work with tax payers who owe to them, no matter the situation. You have to know how to speak with them, and you have to know that you need to communicate in general. Avoiding IRS scrutiny and avoiding your tax bill will only result in possible further penalties, and does not get rid of the money you may or may not owe. Hope you found this video helpful, and be sure to check out more of my videos and my instagram for more info.

Eat Up America! In 2021 & 2022, business meals are 100% deductible. Watch the video for 3 ways to ensure that you are able to leverage this at its fullest!

If you are a mom or soon to be, here are some of the tips that will teach responsibility and great lessons that they will be able to keep with them for a very long time. Providing your child with opportunities where it makes them think, depend on themselves, as well as how to treat others, will grow your child and prepare them for the future.

Welcome back to Koffee w/ Karla. In this podcast I discuss what I feel has made me the best business owner I can be.

If you were not born into wealth, and haven't always been aware about what ways there are to build wealth then this is for you.

I've been doing taxes for along time, and I know that MISTAKES HAPPEN. This is totally normal, we are human. ;) But, it is important to know all of the positives and negatives to amending a return before doing so, so that you have everything in order. It is not bad to amend a return, but you do then have a greater chance of being audited and you need to ensure you have all receipts and documentation that will prove your expenses, income, etc.

Aside from running my business, I am a mother to these 4 amazing boys! I'm not always with them, but the integrity that I show throughout my business, is something I have always instilled in my boys. If you're a mom, you may be able to relate to some of these. I love my sons more than anything, and love watching them grow into great men!

There are tax implications for cryptocurrency and it is being tracked by the IRS. When starting out, this is important to know. It is just like buying stocks and you have to report capital gains, long or short term.

It takes a lot of courage to be a business owner, courage that not everyone is prepared for or has the strength to push through. Many people start out with one foot in the water, and never go all the way in. To really build wealth and give your all to what the business needs to remain profitable and efficient, it takes a certain mindset. In this video you'll find the ways to level up your business.

This video explains the benefits of purchasing real estate within an LLC, as well as other tips and tricks for how to maximize wealth and have many properties. Before you create your LLC for your real estate business listen to this video.

If you are just getting started with your business and/or you have yet to create an entity, here is some information on the different types of LLC's.

Aside from running my business, I am a mother to these 4 amazing boys! I'm not always with them, but the integrity that I show throughout my business, is something I have always instilled in my boys. If you're a mom, you may be able to relate to some of these. I love my sons more than anything, and love watching them grow into great men! ___________________________________________________________________________________________________ Be sure to like and subscribe. If you're interested in scheduling a consultation with the Tax Reduction Company click the link here: www.karladennis.com/free30

If you were not born into wealth, and haven't always been aware about what ways there are to build wealth then this video is for you.

It takes a lot of courage to be a business owner, courage that not everyone is prepared for or has the strength to push through. Many people start out with one foot in the water, and never go all the way in. To really build wealth and give your all to what the business needs to remain profitable and efficient, it takes a certain mindset. In this video you'll find the ways to level up your business. Be sure to like and subscribe. If you're interested in scheduling a consultation with the Tax Reduction Company click the link here: www.karladennis.com/free30

Do you need help with your taxes because of Covid-19? Did you know that the IRS is willing to work with tax payers to help them pay off their debt. Don't run from your debt, instead acknowledge what you owe and if you are struggling to pay down what you owe to the government or their is absolutely NO FUNDS for taxes you need to let the government know, so that you can show you are in good standing and working to negotiate or pay off your debt, at some point. By ignoring the debt, you don't hide from it, you prolong it and even potentially make the situation worse. If you have any questions on how to handle a situation or would like more info feel free to DM me on social media, or leave a comment below. Instagram.com/karladennis_

What is going on with this market? What can we expect to see in the future? Stash your cash and don't lose your money with the market being up temporarily. One thing to note is that investing is serious, when you get into investing you need to know that there are many risks and there is no guarantee that you will make any money or that you even get your money back.

Instead of doing a typical home office deduction, you can save more by leasing out your office space, and paying yourself from your business. When you lease space you are not limited by the space, you are finding the fair market value of the space instead, even if it is in your own home! Then come tax time, what you're going to do is deduct the amount that you had paid to lease that space, and deduct that on your tax return. Subscribe and watch or listen to my other videos on tax savings, and be sure to add me on social media @karladennis_ and DM me any questions you may have. I'm always here to help!

Are you shopping for different insurance coverages and prices for different companies to make sure you're getting the best possible deal. This is something that I suggest my clients do so that they can save as much money as possible. Things to consider: Have I purchased more equipment this year? Has my business model changed? Have I increased my number of employees? Re-evaluate these things, and make sure that your insurance is the best deal for you and your company, so that you can make sure you don't overpay for anything. Follow me on social media for more tax tips @karladennis_

There are many benefits to becoming a real estate professional, if you are an investor, and most importantly if you're already doing the majority of the work. As a real estate professional you manage the real estate, select the tenants and ultimately do more work than anyone else. How you qualify as a real estate professional is by: Logging your time spent on real estate Managing the property yourself Tracking expenses Tracking hired work By doing this and being a professional you can take 100% off your losses. They are endless, and in this case that's a good thing! Follow me on social media @karladennis_

When you hire your kids you don't have to pay payroll taxes. By adding your child to your payroll you are able to get them under your business, keeping wealth in the family. You will also be able to open up a account for them to save money and build wealth to later use when they retire. These are just a couple of the ways that can help you in your business. For more tax info follow me on social media @karladennis_ and check out some of my other podcast episodes!

Real Estate Investors there have been many changes on what is going to happen to the amount that you owe or what you receive back. As a real estate investor you need to ask yourself what you can do to get ahead of these changes, and take action! Check more of my podcasts by checking out my channel and SUBSCRIBING, and follow me on social media @karla_dennis

Your expenses should exceed your income!

If you are a business owner, whether big or small, you will be seeing many changes as the new incumbent takes office. As their will be many increases in the percentage of tax that we owe, there will also be the phasing out of the Qualified Business Income Deduction. Which allowed business owners to take a 20% deduction against their net income for the year. For more tax info check out my other podcasts, and follow me in social media @KarlaDennis_

To workers that are curious about how Biden's tax laws will change for you, then listen to this video and see what changes are to come. I'll break down what is new and what will be phased out. If you want more info on tax savings, or are curious about changes for business owners, stay tuned for next weeks podcast.

In today's world we have started to cut off others with differing opinions and my friend Jason and I discuss how beneficial perfecting communication skills can be. The way that we look at other people's opinions and respond to those has been hurting our world, the lack of respect for the ideas of others. If we close off our minds to new ideas, and beliefs we will inevitably stop innovating, and expanding. Having better communication and building that respect with others all starts in the home, and as adults we need to teach our kids to communicate and listen in a way that will help us in the long run. Be sure to Subscribe and follow me on social media @Karladennis_

As women we often get put into a closed box, that tells us what we can and can't to in life, and if we step outside that box, than there is a lack of support and we are often judged. Sarah Sullivan is a woman who has gone against the norm, and stepped out into new things that women don't typically specialize in. Her and I are a lot alike in that way, as I am a female business owner myself. Hope you enjoy this episode of OverTaxed and be sure to check out my other episodes for info on current tax laws, coming changes and how to correctly set up your business. Follow me on social media @KarlaDennis_

If you are curious has to how your business can get a head, listen to this weeks podcast where I sit down with Kenneth Dennis, my son, and discuss how Entrepreneurs and successful names get are able to rise above. Sustained effort for a prolonged amount of time! There isn't magic to it, just consistency and hard work, and the ones who put in the work come out on top! Subscribe to my channel and follow me on Social Media @KarlaDennis_ for more tips on how you can prevent being OverTaxed!

When you are setting up your business you need to be sure that you are educating yourself on the type of business you are going to be running. If you register your business under the incorrect entity you could potentially be at a loss, because of less you could leverage when doing your, or owing tax when buying or selling. If you would like to know more about setting up your business, or if you think you may need to be under a different entity and want info on how to transfer an entity follow me on social media @karladennis_ and send me a message!

Regardless of whether a new president comes into office, or not, each person has their own set of tax law changes that they put in place, and we need to be prepared for these changes. Along with that, we need to be prepare for the changes to come with how much interest rates have decreased. So when taking advantage of all of these resources that have been made available to you, make sure you are planning for current and future expenses. By accepting these loans you will have to continue to pay back, and if you didn't have the money for it before covid, then what are you doing to make sure that you have the money for it going forward?

When you choose the right people for your team, you can prevent yourself from being overtaxed, now taxes don't just purely correlate with money, but saving yourself from things that are taxing on YOU.

A recession is coming, do you know where your money is going? We need to be anchoring our expenses. As much as we would like to take advantage of that 0% APR or no payments for a year, car deals, we NEED to be saving money! This is not the time to be getting into more debt, this is the time that we need to evaluate the ways we are currently spending our money, maintain that, and strategize how to save and where to put our dollars so that they create the greatest return. To hear more about how you can save money, strategize your yearly expenses, or have any questions check out my social media @karladennis_

The type of entity that you operate under will drive your income tax, and that is why it is so important to operate under the correct entity so that you can become the most tax efficient.

How do you set up an LLC or Corporation?

Do you know the difference between tax planning and tax compliance?

Courtney Harrington is a real estate agent from the Silicon Valley Area! She is a powerful mother, investor, and top performing real estate agent. Today, we have the pleasure of learning from Courtney regarding generational wealth in real estate. If you enjoyed this episode, make sure to like and subscribe! Stay tuned for next Friday's episode! Make sure to follow Karla Dennis on Social Media @karladennis_

In today's episode of the overtaxed talk show, we have @jamelgibbs who dives deep into what it takes to be the change we wish to see in the world.

Welcome to another episode of the OverTaxed Talk Show! In this episode of the series ”8:46 This is America” let's dive deep with Violet Palmer who has crossed over several hurdles in life and in her career. She was the very first female NBA referee for the men's professional basketball. It is through hard work and perseverance that allowed her to break any ceiling that stood in her way. Tune in today to find out how you too can overcome any hurdles you face in your life. If you enjoy the OverTaxed Talk Show make sure you like and follow us. Last but not least, make sure to follow Karla Dennis on IG, FB, and LinkedIn.

Checkout this latest episode of the OverTaxed Talk Show and the first episode in the series “8:46 This is America.”

Are you a business owner? Have you been wondering whether or not you should be a S-Corporation or a C-Corporation? Expert tax advisor, Karla Dennis, explains what you need to know to make the best decision for your business. Tune in today to learn what the best decision is for you! Make sure to subscribe to OverTaxed Talk Show for more episodes! Make sure to follow Karla Dennis on social media @KarlaDennis_ ‼️ Remember to stay tuned for the next episode, next Friday! You won't want to miss it.

Tune in for this weeks episode of the OverTaxed Talk Show! Why is taxes important to learn? And more importantly, why is getting passionate about taxes so important? Make sure to have your notebook ready and learn how you can adopt a passion for taxes and how it will help you to build and maintain wealth. If you want to live with more wealth and give up less money in taxes to Uncle Sam, then this podcast episode was made for you. Subscribe for more episodes and stay tuned for next weeks episode of the OverTaxed Talk Show. Make sure to follow @karladennis on Instagram, Facebook, and LinkedIn for more episodes of Overtaxed Talk Show. Please leave a comment and subscribe to this podcast if you enjoyed this episode.