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.
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.
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 👍
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.
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"?
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?
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...?
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!
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.
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.
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.
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?
This guys is fool of it a CPA can do everything he said at the beginning of the video when you graduate as an accountant you specialize in tax or audit right away the name says everything he’s just selling something but like other comments do you research but like they say don’t trust everything you hear or see all the vide laughing 😂
Agree that folks should work with a TAX PLANNER. However, you again putting down CPAs is actually hilarious. HAve you tried to sit for CPA exam? Folks - most Enrolled Agents are folks who could NOT pass the CPA exam. Find yourself a CPA who knows Taxes (not all do).
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?
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.
Not to be overly negative but the only thing I learned from this is that you want me to hire a tax strategist A good CPA knows everything you just said ,and would tell you when and where and how so that you could Take it vantage of any tax situation .that’s what the CPAs is for ,not just a file your taxes .so with all due respect a good CPA should be able to tell you everything I need to know I shouldn’t have to hire you and a CPA that’s ridiculous in my opinion.
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..
@@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.
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.
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.
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.
I am struggling to find a good financial strategist, I am located in northern Arizona. Can you or anyone here help me find a good financial strategist that will be able to help me. FYI I am in a remote area.
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.
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.
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?
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.
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.
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!!!
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 😎
😀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)
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
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.
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?
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.
I am committed to self-development & thriving.
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 👍
Very smart , in blue collar terms, you can't f*** the system if you don't know where the holes are.
Excellent content as always. You continue to provide great advice!
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!
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.
KD!! Good day good brother
Where can I connect with a good quality tax strategist in the state of Oregon?
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"?
I’m so overwhelmed 😩
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?
Damn dude. This is f*in amazing. Nice work.
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...?
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!
How do i find CPA's to make an amand for me with my last tax return?
first video, thumb up and subed. Good content, looking forward to learning more from you
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.
Whoa! This energy!
Definitely need 1 soon.
Great production and content.
Great content! Thank you sir.
GREAT INFORMATION. Trying to schedule an appointment. Please direct me to where I can begin that process.
Great content thanks for sharing
You made tax strategy cool. Good video
Great information!!
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.
Any recommendations for people in Southern California to do taxes with?
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.
Thank You
Hey man, are you accepting new clients?
I trust you because your name is Carlton
Brah, can you help people with their taxes or do you only do courses…
this is great! 💸💸
How do I find a good tax strategist and so they have to live in my area of business?
So how do I find a tax strategist? Didn't know that was a thing
Got a plan for a dummy, like me? I know of a Business where you can make $100 an hour, in Hawaii. As a matter of fact anywhere in the United States.
is a tax strategist the same as a financial adviser?
Nice👍🏾 👍🏾
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?
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
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?
Wish I watched this a year ago....
Downplaying a CPA because deep down you wish you were one
Looking for a tax strategist that's local in Metro Detroit Michigan
Can a person give a person 1099？
This guys is fool of it a CPA can do everything he said at the beginning of the video when you graduate as an accountant you specialize in tax or audit right away the name says everything he’s just selling something but like other comments do you research but like they say don’t trust everything you hear or see all the vide laughing 😂
Agree that folks should work with a TAX PLANNER. However, you again putting down CPAs is actually hilarious. HAve you tried to sit for CPA exam? Folks - most Enrolled Agents are folks who could NOT pass the CPA exam. Find yourself a CPA who knows Taxes (not all do).
How can you find a good tax strategist and what is it that one should look for before they choose to work with someone?
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?
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.
Karlton, you're out here doing God's work. Thanks for explaining!
Not to be overly negative but the only thing I learned from this is that you want me to hire a tax strategist A good CPA knows everything you just said ,and would tell you when and where and how so that you could Take it vantage of any tax situation .that’s what the CPAs is for ,not just a file your taxes .so with all due respect a good CPA should be able to tell you everything I need to know I shouldn’t have to hire you and a CPA that’s ridiculous in my opinion.
Not necessarily true. There are different types of CPA’s. Some concentrate more on certain practices than others within accounting.
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..
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.
Liked and shared thank you so much for the info
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!
Thanks! As always, great content!
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.
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.
As W2 employee and small business owner, what’s the best resource in finding a CPA or tax strategist?
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.
It's highway robbery that short-term capital gains is taxed as regular income. Day trading should have preferential tax treatment.
I am struggling to find a good financial strategist, I am located in northern Arizona. Can you or anyone here help me find a good financial strategist that will be able to help me. FYI I am in a remote area.
What in the hell is a "tax alchemist."??? Do you not have any real tax credentials? (i.e. CPA, EA, tax attorney)
Which Equipment do you use to record these videos?
Thank you
I WANT LLC DONE For ME TAILOR BRAND DOESN'T SEEM TO DO THAT BUT INC DOES
I was just thinking about hiring a tax strategist. Great video as always!
I need tax person
Can you help a farmer 😅
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.
tried to book a call .
Great video! Very timely for me, I definitely need a tax strategist.
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
Great information thank you!
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
You are brilliant!
nyone who clicked on this UA-cam should listen all the way to the end
Can you make a video that goes into more detail about joint fillings?
Yes.
excellent information.
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.
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 think his wording is wrong. Most of CPAs are strategists based on his definition. I think he meant tax preparers. Great info though.
Great video!! Can you recommend any tax strategist in Austin, Tx? Thanks!!
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
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 😎
😀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)
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
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.
What profit margins count as high income earners but with low expenses.
I need a text strategist and an accountant! Do you have any suggestions and the Jackson, Mississippi area.
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?
Great video! Always informational and entertaining! Thanks Karlton!
what is a "tax strategist" ? a HR block person?
Do I need a tax strategist in Texas where my business is or can I partner with any professional? Great content by the way..
The algorithm got me figured out was literally on google today looking for a tax attorney
13:08
That last one needed an "ugh" the same as the first 2.
Thanks this was right on time for. Just the right amount of content in your video I appreciate it