As the year progresses, it’s important for individuals and businesses alike to consider the impact of their financial decisions—not just on their wallets, but on the world around them. Charitable giving is one such decision that can make a significant difference to others while providing potential tax benefits. Understanding Charitable Contributions Charitable contributions are donations [...]
As the year draws to a close, evaluating your financial strategies becomes crucial to optimizing your tax situation. Whether you're an individual or managing a business, understanding the various tax planning strategies can significantly impact your financial health. Here are some detailed tax planning strategies to consider before the year ends. Maximize Retirement Plan Contributions [...]
Deciding on a payroll schedule is crucial not only for operational efficiency and employee satisfaction but also for maintaining tax compliance. At KDK Accountancy, we specialize in providing the insights and support you need to choose the most effective financial structures tailored to both your business needs and tax obligations. Here’s a deeper look into [...]
Sales tax audits can feel like an unwelcome surprise for any business. No one wants the stress, disruption, and potential penalties that come with an audit. Understanding what triggers these audits and knowing how to avoid them can help you stay compliant and protect your bottom line. In this guide, we will explore what a [...]
Ensuring financial health is essential for the sustainability and growth of any business. For Orlando businesses, regularly evaluating financial health is crucial to stay competitive and ensure stability. Let's learn key indicators of financial health and why regular assessments are vital for business sustainability in Orlando FL. The Four Pillars of Financial Health Understanding your [...]
The landscape of small businesses is always shifting and evolving and it is doing so at a quick rate! Which means staying ahead of financial management and compliance can be daunting. According to Quickbooks, only 16% of new small business owners have a business degree or similar qualifications. So to no surprise, financial management can [...]
For most of the nation, the tax deadline was April 15. However, some people need more time to file, so a tax extension is possible. On April 12, 2024, the IRS estimated that around 19 million taxpayers would file for an automatic extension. Filing for an income tax extension gives you extra time to prepare [...]
The child and dependent care tax credit can be a game-changer for families. However, if you don’t know how to apply the credit to your taxes, you might not get the full benefit. KDK Accountancy is here to shed light on this valuable tax credit and how it can impact your finances. What Is the [...]
As we turn the page and welcome the new year, it's important to reflect on your business's financial status and plan to make the most of 2024. Accounting is a central cog of any business, and by setting accounting resolutions, you can ensure that your financial goals are met. In this blog post, we'll discuss [...]
Running a business is quite a challenging task. Aside from handling daily operations, marketing, and customer service, business owners must closely monitor their finances. Understanding the financial health of your small business is crucial for making informed decisions and ensuring long-term sustainability. By tracking and analyzing key financial metrics, you can evaluate your business's progress [...]
