Who We Are and What We Do
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Hello Wealth Builders! If you're a business owner, you know that you are consistently growing and changing to fit the needs of the market, and your brand. Over the years, through trial and error, I've found that I absolutely love preventing (first and foremost) and solving tax problems. I love doing all things tax related. Therefore, I have decided to no longer offer bookkeeping as part of our packages. We have partnered with some amazing bookkeepers and CFOs that can assist you no matter what level of business you are in. This allows me to focus on my area of expertise, taxes. Think of it as when you go to your primary care physician they are a general practitioner. You can get a check up, routine exams, and regular maintenance at your primary care doctor. If you have problems with your heart, they will refer you out to cardiologist. If you have feet problems, they'll refer you to an podiatrist and so on. Just think of me as your tax doctor (specialist). Many people want a one stop shop. I tried to provide that. However, it didn't allow me to operate at my highest level because there were too many time consuming things that pulled me away from my primary goals. A jack of all trades is a master of none is what I've heard over the years. I challenge you to take a step back and see where you are in business. Ask yourself what is holding you back from operating as your highest and best self. Then determine what areas you need to outsource, or hire help in. I'm already seeing the benefits of my decision. So what do we do? We specialize in proactive tax planning. We help you identify and implement tax strategies that could make a difference in a $200,000 tax bill vs a $2,000 tax bill. We specialize in business tax returns, and prepare other tax returns as well. This is a part of compliance for you as a business owner and individual. It must be done. We solve tax problems. If you missed the proactive tax planning step, we help you reduce or eliminate your tax debt. There are many roles in the area of tax and accounting. If you don't know who you need at this time in your business please refer to the article below about who does what in the tax world:
There are levels to running and growing a business. Make sure you have the right people on your team. A FEW IMPORTANT REMINDERS: August 15th
September 15th
October 15th
December 31st
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Tax filing is a one time event, but successful tax planning happens year 'round. |
Welcome to the KNK Tax & Accounting Blog
Hello Wealth Builders! We are heading into the final stretch of the year. As we approach 4th quarter, it's important to take the necessary steps to minimize or eliminate your tax bill BEFORE the end of the year. Here are 7 things you can do to ensure you finish the year strong: Review your financial reports. Your taxable income is partly determined by your net income (revenue minus expenses). Increase expenses (if needed). If your business needs new equipment, now may be the time to consider...
Hello Wealth Builders! Last week I shared 10 things you need to know before reducing taxes. This week we'll explore the next level. Here are 10 things you can do to start reducing taxes: Tax-Advantaged Accounts: Maximizing contributions to retirement accounts (401(k), IRA), Health Savings Accounts (HSA), and Flexible Spending Accounts (FSA). Tax Loss Harvesting: Strategies for offsetting capital gains with capital losses to reduce taxable income from investments. Charitable Contributions: How...
Hello Wealth Builders! I always say there are levels to building a business and saving on taxes. Too many times I've been approached by people who just want the secret sauce to paying little to no taxes, or don't take the time to understand how income works. I wanted to share 10 things that my most successful clients did and are doing to ensure they are handling their business correctly and paying the least amount in taxes: Understanding Tax Brackets: How progressive tax systems work and the...