“As a Black woman in finance, I had to break down walls just to get in the room – now I own the building.” This powerful statement from Karla Dennis captures her remarkable journey from outsider to industry leader. The CEO and founder of KDA, Inc. has built one of the few Black-owned tax strategy firms in the country.
Dennis now stands as a nationally recognized finance expert and Enrolled Tax Agent licensed in all 50 states. Forbes recognizes her as one of the nation’s foremost tax and financial professionals. Her expertise has landed her on CBS News, Yahoo Finance, NBC Los Angeles, Fox Business, Bloomberg, and CNN.
The defining moment came during what seemed like an ordinary client meeting. A client observed how Dennis employed her four sons alongside other talented professionals. “It was at that moment I looked around my office and realized I had built a multi-million-dollar company,” Dennis recalls.
From Breaking Barriers to Building Generational Wealth Legacy
Years of being the only Black woman in countless rooms shaped Dennis’s perspective. She constantly proved she belonged while outperforming just to be taken seriously. However, that client meeting represented something far bigger than validation.
“When I heard them say, ‘Wow you have a real operation here’ — I knew we were doing more than just taxes,” Dennis explains. “We were creating wealth, knowledge, and legacy. That was the moment I realized I didn’t just get in the room, I remodeled it.”
The family element makes her story particularly compelling beyond business success. All four sons are active contributors to KDA’s mission, though Dennis emphasizes their earned positions. “They didn’t inherit titles, they earned their place through years of learning, observing, and showing up with value.”
Teaching Financial Literacy Through the Revolutionary Jar System
Dennis architected her sons’ financial education from childhood using her innovative “jar system.” Every allowance got divided into five strategic categories with specific percentages. Rent claimed 40%, Food took 20%, Clothes received 10%, Fun got 10%, and Savings demanded 20%.
“Rent taught them no one lives anywhere for free,” Dennis explains the methodology. “Food and clothes helped them understand basic needs come with real costs. Fun gave them freedom to enjoy, and savings was mandatory. I wanted to instill financial discipline.”
These early lessons evolved into deeper business exposure as the children matured. “Those early money lessons evolved into deeper exposure: helping with receipts, listening in on business calls, and seeing what it really takes to build something from the ground up,” Dennis notes.
Practical Tax Strategies for Black Women Entrepreneurs to Keep More Money
Dennis applies the same intentionality to helping Black women entrepreneurs maximize their tax strategies. She’s passionate about sharing overlooked tactics that put real money back in business owners’ pockets. Her first recommendation often surprises people with its simplicity and power.
“Put your children on payroll: If you own your business, you can hire your minor children and pay them a reasonable wage for real work they perform,” Dennis advises. “Not only does this reduce your taxable business income, but it also shifts income to your child who likely pays little to no taxes on that income.”
The strategy works because it represents legitimate business practice that most Black women entrepreneurs never learn about. Dennis also urges entrepreneurs not to overlook foundational strategies like home office deductions or retirement plans such as Solo 401ks and SEP IRAs.
Addressing Systemic Barriers Facing Black Women Business Owners
Dennis maintains a clear-eyed view of the systemic barriers her community faces. Black women represent the fastest-growing group of entrepreneurs, yet they encounter the steepest financial hurdles. She identifies the core issue with precision and clarity.
“The biggest systemic barrier is lack of access to capital and real financial guidance,” Dennis states. “Black women are launching businesses at a powerful pace, but many of us are doing it without funding, without financial infrastructure, and without the support networks other groups often take for granted.”
The solution involves taking control rather than waiting for institutional change. Dennis emphasizes community building as an essential strategy for overcoming these barriers. “We must stop trying to figure it all out alone. Share resources. Talk money. Join spaces where business conversations are happening and strategies are being shared.”
Essential Preparation Tips for Unexpected Business Opportunities
Dennis insists entrepreneurs stay prepared for unexpected opportunities that could transform their businesses. Her essentials include maintaining clean financial records with current profit and loss statements. Official business documentation, separate business bank accounts, and crystal-clear understanding of business numbers are non-negotiable.
“If you stay ready, you do not have to get ready,” Dennis emphasizes. “When someone asks for your numbers, you want to be ready to show them without hesitation.” This preparation separates successful entrepreneurs from those who miss crucial opportunities.
Beyond tactical preparation, Dennis believes mindset transformation is crucial for moving from business operation to wealth generation. “The first mindset shift is moving from survival to strategy. Many of us started businesses out of necessity however, building wealth requires long term thinking.”
Mindset Shifts from Survival Mode to Strategic Wealth Building
Dennis identifies three additional critical mindset shifts for sustained success. First, see yourself as a CEO who builds systems rather than doing everything alone. Second, stop the destructive pattern of undercharging and overworking that plagues many entrepreneurs.
Third, become proactive rather than reactive with financial planning and business decisions. “Wealthy people plan on purpose,” Dennis notes. “When we stop running our businesses like side hustles, we can step into real power.”
These mindset transformations require intentional effort but deliver transformational results. Dennis encourages Black women to move beyond just getting paid to focus on building lasting value. This strategic approach separates temporary income from generational wealth creation.
Encouragement for Black Women Entrepreneurs in 2025’s Challenging Economy
For Black women entering entrepreneurship in 2025’s unpredictable economy, Dennis offers encouragement grounded in realism. Economic uncertainty doesn’t have to derail entrepreneurial dreams when approached with proper strategy and preparation.
“Be resilient. The most successful businesses are not always started in perfect conditions,” Dennis states. “They are built by people who plan with intention.” Her own journey from breaking down barriers to building a multimillion-dollar empire proves this philosophy works.
Dennis’s advice for mothers building future business leaders cuts straight to the point. “Be intentional. You don’t need a financial degree — you just need to start. Let your kids experience money, understand choices, and see you lead with purpose. When you treat your household like the first classroom for wealth, you’ll raise children ready to lead in any room they walk into.”
