As a crucial component of mobilizing tax revenue, taxpayer education can be an effective technique for increasing the propensity of individuals and enterprises to pay taxes voluntarily. Tax administrations should not be the sole entities responsible for educating taxpayers. Effective relationships with various stakeholders, such as institutions, businesses, and individuals, are essential for enlightening the masses on their tax obligations. Tax education aims to change people’s beliefs and attitudes about taxation by teaching those new techniques and facts—it serves as the link between the public and tax authorities such as the IRS.
Tax strategist Karlton Dennis is one of the individuals dedicated to demystifying taxes. According to Karlton, the goal is to inform the public about tax filing options, the significance of paying taxes, and any recent changes to tax law. This will help alter people’s perceptions and approaches to taxation.
Karlton is an enrolled agent, tax advisor, and tax strategist helping entrepreneurs eliminate tax legally. He is the founder of Lauched Tax-Free Wealth Live, a five 5-day event helping thousands of entrepreneurs across the world. Karlton is also a Forbes Council Member and the owner of Karla Dennis and Associates Inc, one of the biggest tax businesses in the country.
Coming from a sporting background, Karlton has always had a profound interest in taxation. He has a major in accounting and taxation and has expounded his taxation expertise beyond business corridors, becoming one of the most prominent tax advisors on the internet. He has helped thousands of everyday individuals leverage tax strategies by making taxes easier to understand.
“My strength comes from my ability to interpret something as complex as taxes and make it simple, fun, and easy to understand. I also show entrepreneurs how to take advantage of the tax strategies the rich use to pay nearly 0% in taxes legally,” Karlton explains.
A tax industry guru, Karlton advises entrepreneurs and individuals to strive to understand the basics of taxation, such as the difference between a tax advisor and a tax accountant. According to him, a tax advisor is supposed to help you reduce your tax bill, while your tax accountant is there to help you file your returns. Understanding this difference will help you learn which expert to engage with.
Additionally, your relationship with your tax professional should be strong. You should feel comfortable going to your tax professional for all things finance, and they should be a member of your team for financial success. Karlton believes the goal should be to save money on taxes in confidence, using the government’s systems that have been created for you, and not to live in fear of the IRS.
Karlton’s goal is to become a top tax professional changing the conversation on tax on social media. Karlton also wants to go down in history as a successful content creator with the most significant tax education platform in the world. He envisions expanding his brand as a public speaker and tax expert while helping over 10,000 students become tax strategists.