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! 💳💵

This year you need to fall negative, if you had a negative this year, you can claim those losses and maximize deductions. 📉

You are able to carry any losses for 3 years, which could be $$$ and of course amazing tax savings for you!🗓

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?