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. 💵

Your entity depends on:

1. Your Strategy

2. Type of Activity you’re doing

3. Structure you’re operating

To learn more about how to run any business tax efficiently be sure to check out my other podcasts/Youtube videos and follow me on social media @karladennis_

It’s all about making the most out of Uncle Sam!💰

How do you set up an LLC or Corporation?🤔

First, Get started by Registering your business through the Secretary of State and get either an Articles of Incorporation or Articles of Organization.📃

After you have registered your business, you need to let the IRS know and get your EIN number, (which is basically a SSN for your business).✅

Once you have an EIN, you are now required to file business taxes for your corporation or organization.💼

Now that you have your Articles and EIN, you can open up a bank account for your business entity!💳

Remember, transfer funds your entity and keep separate records for personal income.💰

Now you are ready for business!👍🏾

Follow me on Social Media @Karladennis_ and sure to subscribe for updates on more great tax info!