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[FWD: The President's Visit]

karla dennis — Sat, 21 Mar 2009 03:31:35 GMT

Hello,

Wow California had an exciting week with the Presiden'ss visit to Southern California. I found the news coverage on his visit very interesting. Many peope viewed it as history and others thought it was a bad idea to spend more government money moving the president from place to place. I would certainly like your opinion on this matter. Let me know your thoughts .

On another note, I wante you to know there is not going to be a second round of IRS stimulus checks or rebate checks being issued. So many people are asking and are under the impression IRS is sending stimulus checks for 2009. The Obama Tax Plan has a let work pay strategy. Meaning, if you work you will see a reduction in the amount of tax withheld from your paycheck. Interesting spin on matters.

Karla

Survey

karla dennis — Tue, 03 Mar 2009 20:28:00 GMT

Bring It On 2009 and Empower Yourself

karla dennis — Tue, 03 Feb 2009 22:32:15 GMT

Good Afternoon,

At the end of 2008, I had serveral friends and clients calling to complain about the doom and gloom of the economy. It became rather trying to here. Everyone had a complaint and if they were not complaining then they wanted to tell you the story about their friends situation. Being around negative people or situations are not good.

I decided in 2009, I would do an all day workshop entitled "Bring It On 2009". During this workshop, we had people come with all sorts of problems. Some of the problems we dealt with were: income is dropping, taxes are increasing, don't know if my money is safe, my property value is going down and I own rentals that are causing my cash flow to go out the window. With some much to complain about, I managed to take these people from feeling hopeless to empowering themselves to do better. We talked about each scenario and gave them an action item to turn their situation around. By the end of the workshop, we had people laughing , exchanging numbers and really feeling like their is hope. The key to any problem is to remember it is not the problem you focus on, but solution to the problem. The solution is what is going to make you feel empowered to be proactive. The problem will drain all your energy.

Remember : solution solution solution!

Best,

Karla

TEENAGERS AND LIFE LESSONS

karla dennis — Tue, 03 Feb 2009 22:18:24 GMT

Good Morning,

I normally don't write about my kids, but today I find it necessary. I have two teenage sons who attend a very popular academic and sports oriented school - college prep. I was discussing with my sons that finals week is coming and make sure they have all their assignments completed and ready to go. My one son who is pretty gifted and takes AP classes informed me that he was missing an assignment when he looked at his grades on line. I asked him why was the assignment missing and he said mom the teacher never asked for the assignment but I have it right here. This led to a three hour conversation on accepting responsibility and thinking for himself. I had to really let my son know over and over again! Certainly once was not enough! Never wait for the teacher to come to, you go to the teacher. Hello my child...wake up! Of course he thinks I am an over the top type "A" mother. I bet you he won't do that again. In life, we cannot wait for anyone to ask us if we need something, we have to go after it. Today - be prepared to ask for what you want. Go for it. If the teacher does not ask for the paper today then go directly to the teacher! I bet you will be glad you did and I know my son will! Oh by the way, I am so not type "A"!

Best,

Karla

Do You Feel Financially Secure?

karla dennis — Wed, 14 Jan 2009 19:24:47 GMT

As I watch some of my favorite t.v. shows, I hear them talking about the recession. They have factored in the slow down of the economy into their actual movie lines. I thought to myself wow you cannot escape the negative overtones of the economy no matter where you turn. I have come to the conclusion, it is what it is. We certainly cannot change the world, but we certainly can change the way we deal with the issues. In life, business or in anything you go to do, you are going to encounter problems - some great and some small. The issue is not the problem, the way we handle the issue can become a problem if we do not take control and get our lives on the right track. I often tell my clients that you have to run your life like a business. We have to assess our lives and reassess our lives and make changes accordingly. Even if you are on the right track, you could get ran over if you just sit there. Take an inventory of your life and ask yourself what things can I change to make my life more fulfilling , possibly generate more income and make me feel secure. For me, I feel secure when I have a plan and clear direction on what I need to accomplish. It may be a slow process but the key is I have identified the things in my life I want to change and the steps necessary to do it. Now, I have to have the mental fortitude to carry them through. How would your life change if you could identify the things that are making you unhappy, but you were able to put a plan in place to deal with it?? Kick around some ideas with Karla and let's see what we come up with.

RECESSION PROOF YOUR FINANCES WITH A KASH KOW

karla dennis — Fri, 19 Dec 2008 21:17:05 GMT

Now that we have talked about building your team of experts, it is time to talk about recession proofing your business. We here such bad daunting news daily from reports and newscasters. It doesn't matter where you turn the sentiment is the same. Companies are laying off workers, the unemployment rate is as high as it has been in years and people are losing their homes.

It is time to accept where we are in our economy and do something different. Each of us has some strengths and weaknesses. Now is the time to focus in our your strength and find your self a Kash Kow - this is my phrase for finding some type of hobby or something that you do to turn it into a business that makes you money. Examples are: Babysitting, housecleaning, baking, fixing things, Mr. or Mrs. Handy, how about putting together Xmas toys for people, hanging lights, washing cars, cutting lawns, tutoring, helping the elderly shop. Remember your Kash Kow is not your ultimate business or something you absolutely love. Your Kash Kow is something you do to make money.

Let's Chat About This!

Best,

Karla

Survive the Recession By Building a Team of Experts

karla dennis — Fri, 19 Dec 2008 00:24:33 GMT

Do you realize how important it is to build a team of experts? Have you ever heard the term "it is not what you know, but who you know"?

Today, it is more important than ever to network and build a team of experts or go to people. All of us carry cell phones, but how many numbers in our phone actually are members of team. Do you have a tax strategist you can call when you are getting ready to make a financial transactions that may have tax consequences? Do you have a financial strategist who you can call to help you make solid financial decisions? Who is your attorney? Do you have a mentor you can call and run ideas by? Do you realize your team is extremely important to your financial stability over the next 5 to 7 years and beyond.

Get our your Rolodex, your blackberry's your I-Phones and start networking with people who know people. I can guarantee you that if you find a good attorney he or she will know a good tax strategist and on and on. Good solid reputable experts know good solid reputable experts. Having people to call and ask questions is the first step to implement in recovery from this recession. Why should you even try to figure the problem out by yourself and cause yourself undo stress?

Get connect with a team of experts and rely on the team to help you make sound strategically planned decisions. This is exactly what the wealthy people do. The president is putting together his cabinet and you should put together yours. You will be glad you did.

Karla Dennis

Bring It On 2009 - Workshop

karla dennis — Thu, 18 Dec 2008 15:57:00 GMT

COHESIVE just launched their next event. January 24th, 2009. Anaheim Hills Country Club. You can learn more about this event on their site www.cohesivetax.com. I will be presenting with a team of people how to secure your financial future. You can read the press release here: http://www.prlog.org/10156154-bring-it-on-2009-workshop-strategy-and-hands-on-implementation-for-recovery.html

Hugs,

Understanding the Obama Tax Plan

karla dennis — Tue, 16 Dec 2008 22:34:00 GMT

As promised, I will keep you updated on Obama's tax plan.

Have You Received an IRS Letter?

karla dennis — Tue, 16 Dec 2008 22:33:00 GMT

The Obama Tax Plan Part 3

karla dennis — Tue, 25 Nov 2008 14:30:00 GMT

I wanted to continue the Obama Tax Plan analysis. Tax Cuts to Enhance Competitiveness and Help Create Jobs.

Obama wants to have pro-business tax policies. Listen to my podcast as I go in more details. We will have to wait and see what really happens once it gets to committee.

The Obama Tax Plan Part 2

karla dennis — Mon, 24 Nov 2008 20:07:22 GMT

I am putting together a series of articles, podcasts and web pages that will discuss the Obama Tax Plan. Please let me know your comments or suggestions. I look forward to helping you understand the ins and outs of the new Presidencies tax plan.

I understand and am leading the pack when it comes to saving taxes under the Obama Presidency. I will keep you informed. I will keep you up-to-date. I will be your resource. I am the industry leader for understanding Obama's tax plan. I can help you every step of the way.

Hugs,

Strategies to Cut Your Tax Bill at Year-end.

karla dennis — Fri, 24 Oct 2008 18:37:00 GMT

With the end of the year fast approaching, you can cash in on unique tax-saving opportunities that won’t be available once Jan. 1 rolls around. It’s often a case of “do or die” when it comes to taxes. If you don’t act now, you’ll kick yourself later.

Although everyone’s situation is different, following are several strategies you might use to cut your personal tax bill at year-end.
    • Estimate your alternative minimum tax (AMT) liability. It may be possible to avoid or reduce the AMT by postponing certain “tax preference” items to 2009. Alternatively, you might accelerate income into 2008 if your AMT rate is lower than your regular tax rate.

    • Thinking about some year end investing, how about purchasing a rental property while real estate is on sale.

    • Bunch medical expenses in the year you may qualify for a deduction. Your unreimbursed expenses can be deducted only to the extent the total exceeds 7.5 percent of your adjusted gross income (AGI).

    • Avoid estimated tax penalties. No penalty is imposed if your tax payments for 2008, including withholding, equal at least 90 percent of this year’s tax liability or 110 percent of last year’s liability.

    • Consolidate personal debts into a home-equity debt. Unlike nondeductible personal loans, you can deduct the interest paid on the first $100,000 of home-equity debt, regardless of how you use the proceeds. Caveat: The debt is secured by your home, so use this technique with discretion.

    • Use capital gains and capital losses to offset each other. Depending on your situation, you may realize gains or losses at year-end. Any excess loss can offset up to $3,000 of ordinary income in 2008. Remember some capital losses from failed financial institutions are not limited to the $3,000 capital loss limit. You may have some capital losses that do not have a $3,000 limit.

    • If you own a business, consider hiring your kids before year end and do some income splitting.

Of course, other year-end planning techniques may be appropriate or preferable for certain taxpayers. True tax planning requires an in-depth examination of your particular facts and circumstances. This will enable you to develop a comprehensive tax plan. Always speak to your tax professional prior to implementing any tax planning strategies.

Do you ever wonder: what does it mean to tax plan? How does one plan to pay taxes?

karla dennis — Fri, 24 Oct 2008 16:09:00 GMT

Tax planning is the actual forecasting of your current year’s income and expense to determine your current year’s tax liability then through strategic planning you implement several steps embedded in the U.S. Tax code to reduce your tax liability. The reason you should do tax planning is because our greatest bill aside from our room and board is our tax bill. We spend more time selecting a car then we do tax planning. Why do you suppose this is true? My guess would be that the average person fears taxes, does not understand them, only use a tax preparer and not a strategist; thus, they don’t feel they have any alternatives. My philosophy is to find someone that knows the tax code well enough so they may implement every single deduction, loophole or opportunity possible for your unique tax situation in order to minimize your taxes. HENCE EFFECTIVE TAX PLANNING.

K

EFFECTIVE TAX PLANNING

karla dennis — Fri, 24 Oct 2008 16:05:00 GMT

Effective tax planning goes beyond the traditional and basic stuff you here year after year:
A) Make more charitable contributions
Invest in a 401K
C) Obtain a larger mortgage so you can have a larger mortgage interest write off
D) Have more Kids - Actually I love Kids - I have four, but please make sure we are having them for the right reasons and not just for a tax write off!

Effective tax planning should include looking at what are your financial goals. For example,
a) If you are interested in investing some money, maybe we should look at an Oil and Gas Project that offers you an upfront tax write off of intangible drilling costs, pays you returns on your invested money and has the possibility of hitting an oil well that will pay you royalties well into the future.
b) If you own a business, are you in the right entity structure to reduce your tax liability or is your entity costing you more in taxes.
c) In this so called down market, have you thought about buying real estate, having a tenant pay your mortgage and then getting a write off for owning the property.
d) What about turning a hobby into a legitimate business taking write offs on your taxes that you are already paying for but cannot deduct any where else?
e) Here is my favorite- ever thought about hiring your kids, paying them just enough money so you can still claim them as a deduction but yet you are shifting the income over to them and thus by using the standard deduction they would not owe any tax?

The ideas I have given you have barely scratched the service of the many ideas you can use to make a plan.

K

Comparing the Presidential Tax Plans

karla dennis — Mon, 20 Oct 2008 14:36:00 GMT

You have listened to all of the debates and now what do they mean from a tax perspective? I have put together a brief audio to help you understand each tax strategy. Each candidate has some good and bad. Please let me know your thoughts.

Go Against the Grain; Plan to Succeed

karla dennis — Mon, 20 Oct 2008 13:51:00 GMT

Fail to plan, plan to fail!
When it comes to taxes, you want to have a plan. I have seen clients who fail to plan and get into an IRS mess. Listen to these strategies that can help you. Call COHESIVE™ today to set up a year end tax planning session. Let us help you make a plan to succeed!

The Truth in Business

karla dennis — Mon, 20 Oct 2008 13:12:00 GMT

After watching the last presidential debate, were you not just eager as ever to meet Joe the plumber? Does this little episode make you wonder if anyone will tell the complete truth? Well there are two things I know for sure and that is death and taxes. I cannot do much about death but I can certainly help you make a common sense approach to taxes, accumulating assets and business planning. I am going to be holding a business boot camp in November and I invite anyone who has a business or is thinking of starting business to join us.

You will learn business 101 in an action back four hours of camp,

Five Simple Steps to Help Secure Your Financial Future

karla dennis — Wed, 15 Oct 2008 19:51:00 GMT

Being in control of your financial destiny requires action. There is a lot of advice out there, but if you do not follow the advice it is not going to help you. Here five very simple steps you should do now to help secure your financial future:

1) Go through your checking account, ATM card statements and credit card statements for at least three months and make a list of all the items you spend your money on each month. Put everything on this list, because it will be the start of your financial plan. If you see $100 coming out of the cash machine every week, make a note of that expense as well. Once you determine your spending pattern for three months, make a list of your average expenses by category. For example, if you see you are eating out a lot, add up all expenses from eating out for the three months to get the total. Divide this total by three to get your average monthly expense for eating out. Use this number as your monthly budget number for eating out. Whether it is $100 or $300, write it down. Do this for all categories. Once you see where your money is being spent, you can start getting a feel for how much you need each month.

2) Once you have added and averaged the monthly numbers for all categories and have put together a monthly budget, take a hard look at this budget and ask yourself if there is any excess spending. Are there things you can certainly do without? Make a list of those things as well.

3) Total these expenses and subtract them from your original budget, and this is the amount of income you must bring into your household every month. If you do not bring in this amount every month, then you must be living off credit cards, charging items but not able to pay for them in full every month. This is a costly mistake that will eventually explode.

4) Immediately stop spending more than you are bringing in each month. If you feel you do not have enough money to make it even if you cut out all the frills and waste in your spending, it is time to look at other income sources.

5) Do you have the time to work a part-time job or start a business? With what is happening in our economy, having your foot in the door of another company may not be a bad option. This provides the opportunity to make more money and the possibility of another job if your employer has layoffs. M next blog session will tell you how to start a business..

Great Time to Buy REAL ESTATE

karla dennis — Wed, 15 Oct 2008 19:45:00 GMT

When I tuned into the vice presidential debate to see what the candidates had to say, I realized it is more important than ever to shore up your own financial future as I listened to several of the options presented by both sides of the spectrum. Change needs to begin at home, your home and my home. In this economy, we need to make sure as much as possible that we are not leaving ourselves open to risks we could have prevented. We are now in a very opportunistic society from both a positive and negative perspective. There will be opportunity to prosper by what some deem as opportunists or what I like to call “contrarians” -- people who do the opposite what they see others doing. When people are panicking and running toward the back entrance, you calmly work the other direction.

This is a great time to buy real estate, start a business and use the economy to create jobs and wealth. Stay tuned while I tell you how.