Tax Free Living

Do you have a small business? What bank accounts should you have? Here are the 5 bank accounts you need to consider opening to stay organized. Open Your Hatch Business Checking Account to Redeem Your 1 YEAR FREE TRIAL: https://www.hatchcard.com/karlton Here's are some tax deduction and banking tips that can help you save you massive amounts of money on your taxes and stay on top of your business f...

Are you writing off your expenses as a freelancer? If not, it's time to track your expenses. GET YOUR FREE LILI CARD: https://lili.co/welcome?r=karlton_dennis Open your free account with Lili today, the first checking account designed specifically for freelancers. Use my code Karlton_dennis for a $25 sign up bonus (if you spend more than $250 in 45 days). Here's are some tax deduction tips that ca...

Want to learn the best defense against an IRS tax audit on your LLC? Here's are some tax deduction tips that can help you save you massive amounts of money on your taxes. In this video we discuss: Expert IRS Tax Audit Defense Inside An LLC Watch this video until the end to avoid overpaying  Uncle Sam and to start making the most out of your real estate business! ______________________________...

Planning on selling your house? Know these tax benefits to avoid capital gains tax when you sell your house (primary residence). Here's are some tax deduction tips that can help you save you massive amounts of money on your taxes. In this video we discuss: How to avoid capital gains tax when you sell your house especially when it comes to taking advantage of the Section 121 Exclusion. Watch this v...

Welcome back to Taxes Made Simple. If you are a business owner, watch this video till the end to avoid overpaying in taxes to Uncle Sam. So many tax payers are unaware of the savings that are available to them when you properly tax plan, and track your business expenses. Watch till the end to get the most out of this video, and leave me any questions or comments below. ____________________________...

Want to learn how to flip real estate with a LLC and the tax deductions and benefits that come along with it? How about some of the mistakes early business owners make with LLCs when getting started in flipping. Here's are some tax deduction tips that can help you save you massive amounts of money on your taxes. In this video we discuss: How to flip real estate with a LLC and the tax deductions th...

Want to learn the best tax write offs for real estate agents in 2021? Here's are some tax deduction tips that can help you save more on paying taxes. In this video we discuss: Strategies to help real estate agents and brokers pay less taxes for their business. Watch this video to avoid overpaying to Uncle Sam and start making the most out of yourself your real estate business! ____________________...

Do you have children? You may be qualified for the Advance Child Tax Credit Payments in 2021. Here's are some tax deduction tips that can help you save more on paying taxes. In this video we discuss: the Advance Child Tax Credit Payments in 2021, the thresholds for qualification, the payment amount for each age range of child and how you will get paid. Watch this video to avoid overpaying to Uncle...

Can you write off your vehicle under your business in 2021? Here's are some tax deduction tips that can help you save more on paying taxes. In this video we discuss: How having a business can help you pay less taxes by writing off your vehicle. Watch this video to avoid overpaying to Uncle Sam and to get educated on how to leverage the tax code! ____________________________________________________...

How does the ultra-wealthy like Jeff Bezos, Elon Musk and Warren Buffett pay little to no income taxes? As a tax strategist, I will be reacting to the new ProPublica article titled, "The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax." Full Article: https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how...

Are you a first-time homebuyer?  Here's are some tax deductions that can help you save more on paying taxes.  In this video we discuss: Standard Deductions and itemized deductions for single filers and married filing joint for first-time homebuyers.  Watch this video to avoid overpaying to Uncle Sam and making the most out of yourself and your home! _________________________________...

Join the waitlist to my course👇🏾  http://bit.ly/TaxAlchemyAcademyWaitlist   Check out my website: http://www.karltondennis.com/   Are you a business owner or real estate professional? Schedule a call with me📞  https://go.karladennis.com/karlton-strategy-session   To keep up with me, and for more tax tips follow me on social media📲  Instagram.com/kar...

Join the waitlist to my course👇🏾   http://bit.ly/TaxAlchemyAcademyWaitlist   Check out my website: http://www.karltondennis.com/   Are you a business owner or real estate professional? Schedule a call with me📞   https://go.karladennis.com/karlton-strategy-session To keep up with me, and for more tax tips follow me on social media📲   Instagram.com/karlton...

When you file your tax returns each year, I'm sure you get excited when you see a large number come back to you. Did you know that tax refunds are anti-wealth! When you are receiving a refund this means that you OVERPAID. The money that you handed to the government, could have gone directly into your pocket for 52 weeks and not into the hands of Uncle Sam. What you choose to withhold when filing y...

Do I need an LLC for every investment property?   Though this does not make sense for every business owner, it's important to understand the risks of only maintaining one LLC with multiple investments.    When would you need more than one LLC?   The more investments that you have inside one LLC means more risk of losing those assets if your Limited Liability Company is in...

Did you know that your business doesn't have to make a PROFIT to leverage deductions? 🤔   Let’s make sure you’re doing everything correctly and in the most efficient manner so you can keep more money in your pocket this year!💰   If your books aren’t up to date, you could be limiting yourself from utilizing all the deductions available to your business, simply because you didn...

If you’re renting out property and accepting payment for that space, you’re running a business!  That means you need to do things right in the eyes of the IRS. 🗃   Avoid scrutinization from the men in suits when renting out properties by going through the correct steps to vet your tenants and document your agreements. 📑   Managing tenants means you’re running a business. So tr...

As a Tax Strategist, I live and breathe EDUCATION & coming to the right solutions When you’re a business owner, you should be leveraging all the resources made available to your business, to save the most time and money. Tax Strategy grants us the ability to leverage the tax codes to do just that! Something you probably won’t see from Turbo Tax. I enjoy helping business owners pay less taxes l...

If you’re working and no money is being withheld from the checks and wages you receive, then you’ll have to pay federal taxes, state taxes, social security and medicare, depending on the state you’re in.💰   When you are self-employed, you’re viewed as an employee AND as the employer.💼  S-Corp owners become W-2 employees under their own business.    As a shareholder...

Stop looking for excuses to not do something. ❌   If the last year taught me anything it’s that we need to go after those opportunities and follow through with the great ideas you have, because you’ve got one life and it’s short.   If you constantly hold yourself back, in fear that something could possibly fall through, not have the outcome you expected, or not bring you the wealth...

Do you own real estate? 🤔   Instead of hiring someone else, hire yourself; and if you’ve been doing all the work and you don’t have yourself on payroll, you need to start NOW! 💯   If you have expenses associated with your management company you are able to leverage more deductions. 🚀   Hope you enjoyed these tax hacks, subscribe to my channel and check out my Instagram...

As a 1099 Contractor you are a BUSINESS OWNER.    Therefore, you have much more tax codes to leverage than a W-2 employee.    As a contractor you need to make sure that you are providing proof of purchase and something that shows that it is/was being used for business purposes.    That may be a lot of work, but by doing this you are able to write-off business exp...

Many times I have clients sit down with me, and we pull their previous tax returns, take a look at the current year and I see that there were so many opportunities to save this person money.    This is why you need to be proactive about your taxes, so that you can strategize.   By taking a look at a business, the business owner, and the goals that they have for their famil...

If you are a property investor, this video is for you! 📺 By being a property investor you are able to leverage tax codes that normal home owners do not get to take advantage of, such as cost of lightbulbs, or even repairs. 🛠 There are many ways that you can protect yourself, as a business owner, when having these properties. 🏡 Follow me on Social Media @Karltondennis, and be sure to subscribe to...

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