BEFORE You Hire a CPA or Tax Strategist...WATCH THIS
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- čas přidán 23. 07. 2024
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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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CPA or Tax Strategist? What are the differences between each and when should you hire?
Here's are some tax deduction tips that can help you save you massive amounts of money on your taxes and stay on top of your business finances.
In this video we discuss: When you should hire a CPA or Tax Strategist.
Watch this video until the end to avoid overpaying Uncle Sam and to start making the most out of your real estate business!
*Disclaimer: I am not a financial advisor nor am I an attorney. I am a licensed Enrolled Agent. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
![How to Use Rental Losses to OFFSET W2 Taxes! [Part 1]](/img/n.gif)
The problem that I’ve been seeing lately with A LOT of EAs is that they feel the need to constantly downplay & in some instances “attack” CPAs when it comes to tax services. As a result they end up putting out misinformation about CPAs trying to force themselves to be perceived as superior tax professionals. Here is the truth:
1. CPAs that focus on tax don’t just do compliance. They are strategists as well.
2. Not ALL EAs are Tax Strategist
3. EAs, CPAs, Tax Attorneys have the SAME rights with the IRS. CPAs & Attorneys just have more rights outside of the IRS. EAs don’t.
4. It’s way more difficult to become a CPA & Attorney than an EA.
5. To become a CPA you need a degree, experience & pass a extremely difficult exam.
6. To become an Attorney you need a law degree & pass the bar.
7. To become an EA you DON’T need a degree. Just pass 3 multiple choice test.
8. All CPAs are Accountants. Not all EAs are accountants.
Bottom line. All 3 can be Tax Strategist. Do your due diligence to make sure the professional you’re working with is able to take care of your needs.
👏🏾👏🏾👏🏾
Glad to see I'm not the only one that noticed the attacks on CPAs. Serious misinformation about what they do.
Very good point. 👏 👏 👏.
Sounds like jealously to me. Need to look at professionals individually not by titles.
Thanks for clarifying!
I feel like my mind has been blown. I learnedSO much. I'm a new biz owner and I can't wait to be able to use a tax strategist. I need to find a good CPA for now. Thanks for this valueable content.
Thanks! As always, great content!
Excellent content as always. You continue to provide great advice!
Thanks this was right on time for. Just the right amount of content in your video I appreciate it
Great video! Always informational and entertaining! Thanks Karlton!
Great video! Very timely for me, I definitely need a tax strategist.
I really needed to hear this. Thank you
Thanks Karlton for all that you do. I plan on starting a Notary business but I need to understand taxes first. this really helps!
Smart, simple, direct and right on the money! Thanks for helping all of us. I have had my LLC for a year but hadn't really launched my business 'til now.
Great information thank you!
I’m so glad I found your channel 👏🏾
Thank you for making thing so clear
Great content! Thank you sir.
Liked and shared thank you so much for the info
I’m more than happy to discover this channel. I need to thank you for your time for this, particularly a fantastic watch!! I liked every little bit of it and I have subscribed you to look at new posts all the time.
Great presentation, great look, love the editing, thank you for the written notes on iPad, lol.
Looking forward to liking more of your videos soon!
Always right on point 😀
Great content thanks for sharing
Great Information!
thanks for the info!!!
Great information thank you for the insight!
Just started a LLC for my lawn care business things are slow but growing. Still at my 9 to 5 but I am able to balance both for the time being.
Great production and content.
Thank you soooo much for this!!! I have been running behind my CPA trying to get her to understand some of this stuff!!! She never get back to me like she should!! I understand now!!!
You are awesome Karlton and full of knowledge. Looking forward to having a consultation
Great information bro
Yes, Karlton, I have learned so much from you and your mom.
Great information!!
😀Hi Karlton
I really appreciate & enjoy your videos. They’re so informative and I have never been exposed to this kind of knowledge. Now that I’m seriously considering to starting my own business…I find myself watching your channel repetitively because you speak so fast 💨 and I don’t want to miss anything that cost me money 💰 down the road.
Keep up the Amazing Work!
I wouldn’t mind working with your business.
😇 (Blessings to you & your Mom for your Tax Professionalism)
Great video.
I was just thinking about hiring a tax strategist. Great video as always!
Right on! 2nd year RE investor and I literally wrote off everything last year and now don't have enough taxable income to refi out the equity in my house. I might be giving you a call soon 👍
excellent information.
Solid advice
Thank you very much for this video. So many good points. New Entrepenure here and I thought CPAs were Tax Strategist. Keep up the videos. Your production quality and content value are excellent.
CPAs are THE tax strategists
first video, thumb up and subed. Good content, looking forward to learning more from you
This video is right on time! I started an online business this year that surprisingly took off, filed an LLC and took a few courses that required a lot of spending on supplies, so my taxes will be more complex than I’m used to. I have a meeting with a cpa on Monday to talk taxes. Thanks so much for the info!!
Congrats on your business! I just started my online business selling CBD dog treats. His videos are so helpful and information and giving me guidelines I am setting for when taxes comes.
Right on. May you enjoy the rest of your days!
What business did you start?
@@jeffreysperry6548 how’s this business going?
@@moreperfectself it’s pretty good! Just got my products in Amazon!
Damn dude. This is f*in amazing. Nice work.
Hey, Dennis great content thank you
Can you make a video that addresses if a non-resident/non US citizen can form an LLC or not and what are the legal routes to for LLC and in which state?
KD!! Good day good brother
Thank you
Thank You
You made tax strategy cool. Good video
I am committed to self-development & thriving.
Our new cpa his secretary told us he does forward tax planning for social security & possible Roth conversions, not his specialty. Instead, he referred us to a CFP & Attorney.
GREAT INFORMATION. Trying to schedule an appointment. Please direct me to where I can begin that process.
this is great! 💸💸
Whoa! This energy!
Definitely need 1 soon.
You are brilliant!
nyone who clicked on this CZcams should listen all the way to the end
Hello Mr.Karlton Dennis,How are you this morning.I enjoy your help with this business information and learning how to maintain as a business and investment owner as I'm growing into business learning and I'm dealing with these business steps and now I'm with legal zoom paying out $114.99 a mouth out of my personal account and doing certain things myself for my business up keeps,but my business hasnt started yet and I have been looking at your some of your videos on these subjects and I want to make the correct steps to move forward.So where do I need to look for a good tax strategist.
Great stuff, Karl. Is there someone in the New England Region you can recommend for tax strategic planning? I live in the little state of Rhode Island.
Hey @karltondennis just started a transportation business. No truck or contractors/employees at this point as I am still in my process of building business credit. When would it make sense to for me to pay for for a tax strategist or a cpa?
Great video!! Can you recommend any tax strategist in Austin, Tx? Thanks!!
Nice👍🏾 👍🏾
How can you find a good tax strategist and what is it that one should look for before they choose to work with someone?
Karlton, you're out here doing God's work. Thanks for explaining!
Can you make a video that goes into more detail about joint fillings?
Yes.
Thanks for the great video, it was very informative!
Also what was the name of that "electronic pad" you were writing on doing your presentation, and how did you integrate that pad it into your presentation? I'm an online instructor, and I've been looking for something like that. Thanks much!
The algorithm got me figured out was literally on google today looking for a tax attorney
Very clear information.
I Have a question, just opened an LLC in Florida, For real estate investment And I would like to apply for my ein number, What category should I select in the form, Thank you
Very smart , in blue collar terms, you can't f*** the system if you don't know where the holes are.
Do I need a tax strategist in Texas where my business is or can I partner with any professional? Great content by the way..
Any ideas where is safe to look for an honest CPA or tax strategist?
Great information man. I really appreciate it. Can you hire a tax strategist in another state? I have two LLCs one in NY and another in IN. Should the tax strategist be in the state I’m living in or it doesn’t matter?
Yes you can
Can I just hire you? Lol I’m so serious. I just started a trucking company in Illinois
As a person who made mistakes doing what you’re trying to get into, I would DEFINITELY hire this guy or someone who will have the complete conversation(s) with you.
How do I find a good tax strategist and so they have to live in my area of business?
We so need help with this we do custom pool construction
I need a text strategist and an accountant! Do you have any suggestions and the Jackson, Mississippi area.
Thank you brother, this is the few times where it’s good to have more questions than answers. Also, any advice on how to find a good financial strategist?
Any recommendations for people in Southern California to do taxes with?
Where can I connect with a good quality tax strategist in the state of Oregon?
With respect to number 5..you mentioned that if a spouse is owner & mate is a W-2 employee, the business owner could potentially write off additional expenses. To which then probably makes sense for them to file jointly their taxes rather then separately. My question is what if neither is aware of said benefit probability, when you stated couples should not discuss that during a tax appointment in which they could learn of it ? You said you gotta partner with someone that you can trust an be transparent. An last thing brotha you mentioned some of these tax preparers may not have time or be even knowledgeable on what your breaking down to us here upon such a very important key aspect of being in business. How are we to engage a person who is either: a cpa ; a tax strategist ; a enrolled agent or simple tax preparer in the quest to finding and establishing such relationship with someone who has the knowledge your sharing an whom can be trusted to work with by hiring them...to definitively know they have your interests at heart an won't fuck you over per say...?
Which Equipment do you use to record these videos?
13:08
That last one needed an "ugh" the same as the first 2.
I’m so overwhelmed 😩
Hello Karlton, I have a question about my taxes for the years 2019-2022. I was audited by the Comptroller of Maryland. I paid someone to do my taxes and she added some credits to my taxes.
So how do I find a tax strategist? Didn't know that was a thing
How I know I need a tax strategist... I have a hands off LLC, trying to slide into REI and say that's my place of business while having my separate personal apartment and having a renter so I'm also property management while paying my kid for work 🤔💡need a strategist 😎
What profit margins count as high income earners but with low expenses.
Always great advice, I have money in Crypto and was thinking when I sell I to make around $600,000 (hoping) what should I do with the profits. I was thinking about buying my moms home for her and it would be in my name. Is that an investment I can use in my favor. Obviously the house wouldn't make me income because its my moms house and I am paying off her house to own it and her live in it. I am wondering how I could leverage for my benefit. I live in a state that has an income tax. I own my home in that state, using that home as a secondary home may save me money on paying state income. Also wondering if there is a way to do a LLC to leverage more taxes. Also planning to reinvest that profit into a high yield dividend account. How much do you charge for tax strategy advice?
Dam! U good 👍
As W2 employee and small business owner, what’s the best resource in finding a CPA or tax strategist?
How do i find CPA's to make an amand for me with my last tax return?
What are your thoughts on EAs? I have a job offer with the IRS, I was thinking about opening up my own shop down the road.
Hey man, are you accepting new clients?
can you shed some light on barbers, i just got licensed at 20 and don't want to create my LLC rn in fear of wasting it the many opportunities you get within the first year of having it. Should i remain a sole proprietor until transitioning into my own business or launch my LLC and build my business knowledge through it?
Build your llc
So I believe my tax lady is a CPA from what you're saying but my family is pressuring me to go with a professional tax person since we are dealing with a Trust, myself working more and investing renovating mobil homes for the first time in my long poverty lifestyle. My wife's family has money and owns mobil home parks and homes. But I've been mostly on welfare and now have a chance to invest!
However, I have not been reporting my fed and state taxes, because I thought the 1099 took care of that when I turned it in to my tax lady. She told me it's my responsibility to report those myself....Yes, I feel pretty dumb, but at least informed so I can do some thing about it now.
Im getting this uncomfortable feeling from making this switch from poverty to lower middle class, and loosing our yearly tax return of 10K and having to pay more on my income as I have been working full-time at 20 an hour....and I'm very concerned about loosing things like our food stamps which has been cut considerably since I've been renovating homes, not to mention loosing medicaid and of course, maybe switching to a professional strategist as you are discussing.
How much do people spend yearly on a strategist??...Because I will have lots of questions, and afraid I could get carried away consulting with them.
tried to book a call .
As a software engineer, I often work through a "Vendor"/middle man for a particular client. The client Dictates how I work, provides supplies and controls my hours. Often, I'm a W2 of the "Vendor". I'm also seeing this for a position being offered where the Vendor has me as a 1099. These are big multi-billion dollar corporations I'm talking about. How are they getting away with hiring me as a 1099 when clearly I'm a W2 by this video?
Do the rules not apply when there is a "Vendor"?
Your videos are great! Thank you.
Would you please remove the short popup videos ?
They cause one to lose focus on the information. They're also annoying, and unnecessary to make your point. True is your make the information completely understandable and great. No need for these short pop-up.
Thank you so much.
I am a CPA. A good CPA IS A tax strategist. I love these new terms people use who are not CPAs
Sounds like jealousy.
@@fitnesslife4me775 LOL. I am a CPA, what is there to be jealous about? There is no such person as a 'tax strategist" It is a made up profession from this guy who is not a CPA.
is a tax strategist the same as a financial adviser?
So if someone wins a sweepstakes or lottery do they need a cpa, tax lawyer and a tax strategist or or just a tax strategist?
Tax strategist
I need an appointment with you. I am unable to get appointment with you .
pls reply to me on how to reach out to you?
I WANT LLC DONE For ME TAILOR BRAND DOESN'T SEEM TO DO THAT BUT INC DOES
Looking for a tax strategist that's local in Metro Detroit Michigan
If you are filing a 1099 they are NOT an employee. Not sure why you saying that, then afterwards call them and independent contractor, which is in fact what they are. It's confusing.
It's highway robbery that short-term capital gains is taxed as regular income. Day trading should have preferential tax treatment.
newbies🚀 usually undermine and neglect the importance of technical analysis with regards to trading. technical analysis overly predicted the movement of assets price regardless of what is happening in wider and broad market, Essentially, the procedure involves studying the the paths of particular asset movement in the past so as to establish a sustainable pattern that can be used to learn future movement of an asset. Doing technical analysis can be quiet different which is why newbies/traders neglect day trading their coin and stick to holding which is very dangerous as when the market goes bearish or bullish,advice any newbies to buy the dip and tradr for traders who are still wondering to enter the market or old time traders who are holders to seek help from not just any traders but an establish trading expert with at least 96% trade accuracy..