Many states in America such as California have extremely high income taxes. However, this doesn’t mean that every state has income taxes. In fact, there are some states in America that don’t have income taxes at all. In this video, tax expert Karlton Dennis explains which states in America do not have any income taxes. Every year, many people move to these states in order to take advantage of the lack of state income taxes. Karlton also explains some interesting facts about these states and how ...
Feb 19, 2024•10 min
For many years, 529 plans have been one of the best ways to save for education expenses such as college tuition or books and school supplies. However, up until recently, people who wanted to spend money from their 529 accounts on anything besides qualified education expenses were forced to pay additional taxes and penalties on the money that they withdrew. But, starting in 2024, a massive rule change is going into effect for 529 plans. This change will allow people to roll over leftover funds fr...
Feb 16, 2024•11 min
Over the last two years, there have been some major changes to 401(k) retirement plans. Tens of millions of Americans have these plans and so these changes are going to impact a significant portion of the population of the United States. If you have a 401(k) plan, then you need to be aware of all of the key changes that are happening to these plans. In this video, tax expert Karlton Dennis explains all of the most important changes to 401(k) plans that will be going into effect in 2024. Many of ...
Feb 12, 2024•8 min
The IRS announced that it will start requiring payment app companies to issue Form 1099-K to everyone who receives $600 in income through their payment apps starting in tax year 2025. For 2024, the income threshold to receive Form 1099-K is $5,000. The IRS will receive copies of all 1099-K forms that are issued by payment app companies. A lot of business owners use Cash App and Venmo for payments. Unfortunately, there are some significant risks associated with this practice that many business ow...
Feb 09, 2024•9 min
2024 is an election year in America and many politicians have been talking about the retirement age. Currently, the full retirement age in the United States is either 66 or 67, depending on the year you were born. However, politicians like Nikki Haley think that this age should be increased. In this video, tax expert Karlton Dennis discusses the changes to the retirement age that key politicians have been proposing. He also breaks down how this could impact you and what you should do to prepare ...
Feb 05, 2024•10 min
Congress just announced a brand-new $78 billion bipartisan tax deal. This tax deal includes major tax changes that would impact individuals, families, and businesses. It has not yet become law. However, it could be passed in Congress in early 2024. In this video, tax expert Karlton Dennis breaks down all of the most important changes included in the new tax deal. This deal includes changes to bonus depreciation, the child tax credit, research and development deductions, the low-income housing ta...
Jan 30, 2024•11 min
Do you need to shut down your LLC? Then it is EXTREMELY IMPORTANT that you close it down the right way. Otherwise, you could be forced to deal with giant fees, lawsuits, AUDITS, and a wide variety of other serious consequences. In this video, tax expert Karlton Dennis goes over every single question you might have that pertains to safely shutting down your business. *Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly r...
Jan 12, 2024•12 min
Taking the Next Step: Download the Short-Term Rental Rule E-Book! ▶ https://ebook.taxalchemy.com Book a Professional Tax Strategy Consultation ▶ https://karladennis.com/youtubeconsult Watch this FREE Webinar on how to Use Real Estate To Offset W2/1099 Taxes ▶ https://taxreduction.link/taxsaver Get Help Setting up Your LLC, Now ▶ https://shareasale.com/r.cfm?b=617326&u=2911896&m=53954&urllink&afftrack Digital residency is a trend that is growing steadily in popularity. In this vid...
Jan 03, 2024•12 min
Taking the Next Step: Download my new book! The Short Term Rental Rule: https://ebook.taxalchemy.com Book a Professional Tax Strategy Consultation ▶ https://karladennis.com/youtubeconsult Get Help Setting up Your LLC, Now ▶ https://shareasale.com/r.cfm?b=617326&u=2911896&m=53954&urllink&afftrack Getting audited by the IRS can be extremely stressful, tedious, and difficult. People who are audited by the IRS have to go through a process of proving that their tax returns are accurat...
Dec 27, 2023•13 min
Download the Short-Term Rental Rule E-Book! ▶ https://ebook.taxalchemy.com Book a Professional Tax Strategy Consultation ▶ https://karladennis.com/youtubeconsult Watch this FREE Webinar on how to Use Real Estate To Offset W2/1099 Taxes ▶ https://taxreduction.link/taxsaver Get Help Setting up Your LLC, Now ▶ https://shareasale.com/r.cfm?b=617326&u=2911896&m=53954&urllink&afftrack Backdoor Roth IRAs are a great retirement planning option for high earners. Many people with high inco...
Dec 20, 2023•11 min
Hunter Biden, son of President Joe Biden, was indicted on 9 criminal tax charges in December, 2023. If he is convicted, he could be facing up to 17 years in prison. He was indicted by a federal grand jury in the state of California. In addition to the 9 criminal tax charges, the son of the president is also facing criminal charges for gun violations in the state of Delaware. A plea deal that involved both his tax charges and his gun violation charges fell through earlier in 2023. Now, Mr. Biden ...
Dec 14, 2023•12 min
Although many tax-saving strategies are geared towards business owners, it is still possible for W-2 employees to implement a variety of techniques to save a substantial amount of money in taxes. In this video, tax expert Karlton Dennis breaks down five of the best ways to reduce taxes on W-2 and active income. He covers real estate investing-based strategies such as qualifying for real estate professional status and using the short-term rental rule. The short-term rental rule involves renting p...
Dec 04, 2023•9 min
Tesla, Inc. has long been known for its highly innovative electric vehicle designs. However, it appears that the company is on the brink of taking electric vehicle technology one step further. The company has been speaking about creating “robotaxis” for several years now. A robotaxi is a self-driving vehicle that is capable of picking up and dropping off customers without the need for a human driver. Apparently, the car manufacturer plans to integrate robotaxi technology into some of its new veh...
Nov 28, 2023•11 min
Owning your own home is what nearly every American citizen strives for, but high property taxes can not only lower your housing options, it can affect your wealth if you decide to go through with it! In this video, tax expert Karlton Dennis highlights the top five states with the highest property taxes and discuss the pros and cons of living in each one. Make sure to watch until the end to learn exactly how to avoid unnecessary property tax expenses! Timecodes: 0:00 Overview 0:47 State #5 2:28 S...
Nov 24, 2023•10 min
Learn the rich's tax secrets with my new book! Click the link below https://ebook.taxalchemy.com In today's special video, tax expert Karlton Dennis lays out 5 key habits that he adopted to put behind a broke past and embracing the future of a millionaire. Taking the Next Step: 📞 Book a Professional Tax Strategy Consultation: https://karladennis.com/youtubeconsult 🤑 Watch this FREE Training to Learn How to Save on Taxes, Legally: https://taxreduction.link/taxsaver My Tax Strategy Programs: Tax...
Nov 04, 2023•17 min
Discover Top Secret Strategies To Paying Less In Taxes With Our 5 Day Tax-Free Wealth Challenge! October 30 - November 3 2023! Click The Link below for more info https://www.thetaxfreewealthchallenge.com/join-thechallenge Learn the rich's tax secrets with my new book! Click the link below https://ebook.taxalchemy.com Taking the Next Step: 📞 Book a Professional Tax Strategy Consultation: https://karladennis.com/youtubeconsult 🤑 Watch this FREE Training to Learn How to Save on Taxes, Legally: ht...
Oct 24, 2023•12 min
Schedule a FREE 45 min video chat with a financial professional, CFP, or hybrid advisor at a time and date that works best for you! Click the link below for more info: https://moneypickle.com/karltondennis Discover Top Secret Strategies To Paying Less In Taxes With Our 5 Day Tax-Free Wealth Challenge! October 30 - November 3 2023! Click The Link below for more info https://www.thetaxfreewealthchallenge.com/join-thechallenge Well over half the US population owns stocks in one way or another, but ...
Oct 20, 2023•13 min
Learn the rich's tax secrets with my new book! Click the link below https://ebook.taxalchemy.com Grow Your Tax and Accounting Business With Our 5 Day Tax-Free Wealth Challenge! October 30 - November 3 2023! Click The Link below for more info https://www.thetaxfreewealthchallenge.com/join-thechallenge Simple life skills can have immense effects on your psyche. They can lead you on to a natural path of goodwill, wealth, and life-fulfillment. Karlton Dennis is around big numbers all day long, he un...
Oct 17, 2023•10 min
Learn the rich's tax secrets with my new book! Click the link below https://ebook.taxalchemy.com Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge Today on Taxes Made Simple, tax expert Karlton Dennis goes over 5 key indicators that will tell you if your shiny new s-corp is a red flag for the IRS! You might be surprised at how easy it is to end up in this si...
Oct 13, 2023•11 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge Learn the rich's tax secrets with my new book! Click the link below https://ebook.taxalchemy.com As a man, you have obligations to fulfill in this world, especially when it comes to providing and protecting your family. That's much easier said than done in this day and age, particularly with so many personali...
Oct 09, 2023•15 min
Learn the rich's tax secrets with my new book! Click the link below https://ebook.taxalchemy.com Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge Having children can be one of the most rewarding experiences in humanity, but let's be honest, starting a family can get expensive fast! Thankfully the US government has updated its child tax credit laws for 2023!...
Oct 06, 2023•13 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge Thinking of starting a new business? The business structure you choose is integral to not only its success, but also how much you'll be paying in taxes down the road. Choosing the wrong structure can result in you losing out or having to pay way more than necessary, which is why tax expert Karlton Dennis is h...
Oct 02, 2023•12 min
This video is sponsored by D&B Click here for more info: https://dandb.7eer.net/c/1194115/1809623/2075 Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge On today's episode of Taxes Made Simple, Karlton dives into how you can increase your credit worthiness when you decide to apply for business credit. Taking the Next Step: 📞 Book a Professional Tax Stra...
Sep 19, 2023•15 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge You hear all the time how the rich don't pay their taxes and live their lives in luxury while the average Joe shells out most of his income to the IRS. What if I told you that you, yes....YOU, are capable of avoiding taxes completely, 100% legally just as the rich do? Anyone can accomplish this, but you need ...
Sep 12, 2023•11 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge What does the tax status of your LLC look like? If you're not aware of how to properly save for taxes for you new business, this is the video for you! EA Karlton Dennis goes over the exact budget you need to keep in mind on today's Taxes Made Simple! Taking the Next Step: 📞 Book a Professional Tax Strategy C...
Sep 07, 2023•17 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge Choosing the WRONG name for your LLC can not only deter your business, but could even potentially put yourself in the middle of a hot lawsuit with a trademarked company of the same name! This video will fully teach you how to name your LLC that will promote economic growth and keep you out of trouble! Taking ...
Sep 02, 2023•13 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! October 30 - November 3 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge It has never been more competitive in the modern age to make lasting wealth that STAYS with you! It's so easy to lose everything you worked so hard to get, which is why adopting some of these principles with your cash is so important. Find out which are best for you on today's Taxes Made Simple! Taking the Ne...
Aug 28, 2023•22 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! September 11 - 15 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge Everyone should know at this point the importance of the LLC as a business structure, but if you have a PARTNERSHIP LLC, you might be walking right into disaster without even knowing it. What can be done if you find yourself wanting change for your business? Tax Expert Karlton Dennis answers this and more on today'...
Aug 25, 2023•12 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! September 11 - 15 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge If you're a business owner,listen up! The United States government have been making significant changes to their anti-money laundering laws. The Corporate Transparency Act will drastically affect reporting requirements for businesses of any size. How will this change your company? Tax expert Karlton Dennis explains...
Aug 21, 2023•13 min
Grow Your Tax and Accounting Business With Our 5 Day Tax Growth Challenge! September 11 - 15 2023! Click The Link below for more info https://taxgrowthchallenge.com/join-the-challenge It's no secret that taxes in California are INSANE compared to the rest of the nation. Thankfully, a new bill recently passed called Assembly Bill No. 150 (AB 150) has allowed for an amazing TAX LOOPHOLE that could greatly benefit the population of not only California, but even other states! How is any of this poss...
Aug 15, 2023•11 min
