What metrics can I use to track my business?

What metrics can I use to track my business? Businesses need to have a way of measuring their financial progress. This will make tax payments and arrangements easier. Companies can use net profit margins, gross margins, sales revenue, lead generated per month and sales growth per year.

What is bookkeeping?

What is bookkeeping? Bookkeeping refers to an accounting process that involves recording the financial transactions of an individual or business entity.

What is tax compliance?

What is tax compliance? The willingness of taxpayers to comply with the tax regulations and laws by paying their tax promptly and at the right time is tax compliance.

What is an income tax?

What is an income tax? An income tax is a tax imposed on the profit and income of an individual or business entity.

 

What is a financial statement?

What is a financial statement? Financial statements refer to formal records of the financial activities of a business, individual, or entity over a period.

What is payroll?

What is payroll? Payroll refers to a list of employees of a company and the amount of money that they are to be paid. It contains details of all the staff of a company.

What are business taxes?

What are business taxes? They are the direct tax imposed on the income or capital of corporations and legal entities by the state and its agencies. Business tax is also known as the direct tax.

What is business entity selection?

What is business entity selection? Why a business entity is an organization that is established by an individual or group of individuals to conduct business activities, business entity selection is the process of forming a new company with ownership, liability, and taxes as main considerations.

What is the difference between a tax deduction and tax credit?

What is the difference between a tax deduction and tax credit? Tax deductions occur when you overpaid your taxes. It will be deducted from your income taxes. Tax credit refers to the money (tax) that you owe or have not paid.

What is the difference between a bookkeeper and an accountant?

What is the difference between a bookkeeper and an accountant? The difference between them is mainly in their respective responsibilities. Accountants interpret, analyze, summarize and report financial data while a bookkeeper only records financial data. RKD is a professional accounting firm.

Receipts

Receipts Your accountant will also request for all receipts of assets bought by your business. Other related financial documents such as loan payment records, accrued interest, bank statements, payroll data, inventory, and expenses records. You can contact RKD to get details of the documents required for your business.

Tax forms

Tax forms Your tax forms depending on the nature of your business. You can also contact RKD to know the type of tax form that is appropriate for your business.

What documents do RKD Tax and Accounting need from me to best help my business?

What documents do RKD Tax and Accounting need from me to best help my business?To meet your business accounting needs, you need to present some important financial documents such as income statements, balance sheets and cash flow statements which also include, but are not limited to the following:

Tax forms

Your tax forms depending on the nature of your business. You can also contact RKD to know the type of tax form that is appropriate for your business.

Receipts

Your accountant will also request for all receipts of assets bought by your business. Other related financial documents such as loan payment records, accrued interest, bank statements, payroll data, inventory, and expenses records. You can contact RKD to get details of the documents required for your business.

Should I invest in accounting software or consult accounting firms?

Accounting software is thought to provide a wide range of accounting services. However, they have some limitations which make RKD services more preferable to clients than accounting software as highlighted below:

Training

Most accounting software can be complex for business owners to use. They may even require special training and this consumes valuable business time. RKD acts promptly on your accounting requests.

Cost

Getting a license to use the software and buying them involves a high cost. This is in addition to the cost of training.

Fraud

Using accounting software can expose your business to fraud. RKD has a team of trusted professionals that are ready to attend to you.

From the above, consulting RKD Income tax and Accounting services is the best option for you.

 

What do account receivables include?

What do account receivables include? They include invoices for goods ordered by customers but were not paid for within the agreed time. They refer to monies owed to a company by customers and they are legally enforceable.

Fraud

Using accounting software can expose your business to fraud. RKD has a team of trusted professionals that are ready to attend to you.

From the above, consulting RKD Income tax and Accounting services is the best option for you.

Cost

Getting a license to use the software and buying them involves a high cost. This is in addition to the cost of training.

 

Training

Most accounting software can be complex for business owners to use. They may even require special training and this consumes valuable business time. RKD acts promptly on your accounting requests.

Should I invest in accounting software or consult accounting firms?

Should I invest in accounting software or consult accounting firms? Accounting software is thought to provide a wide range of accounting services. However, they have some limitations which make RKD services more preferable to clients than accounting software as highlighted below:

What is the difference between tax preparation and tax planning?

What is the difference between tax preparation and tax planning? Tax preparation is the process of ensuring tax compliance. It involves filing tax returns for compliance while tax planning is the minimizing of tax risks. Tax planning directly contrasts tax avoidance which increases tax risks.

If I work from home, what deductions should I qualify for?

If I work from home, what deductions should I qualify for? If your business operates exclusively from home, you will have deductions from areas such as some utilities, mortgage interests, and Property taxes. RKD will guide you on deductions especially when you operate a home office.

What is the difference between CPA’s and Accountants?

RKD offers professional tax preparation and accounting services. Our services are efficient and highly professional so contact us to get tax and accounting needs.

What is the difference between CPA’s and Accountants? CPA stands for Certified Public Accountants. They are different from Accountants in that they can audit financial statements, balance sheets, and income statements whereas accountants cannot. In summary, all CPAs are accountants but not all accountants are CPAs. At RKD Income tax and accounting services, we have CPA professionals ready to meet your accounting needs.

How can I find a suitable tax preparation company?

How can I find a suitable tax preparation company? RKD offers professional tax preparation and accounting services. Our services are efficient and highly professional so contact us to get tax and accounting needs.

 

What are business taxes?

What are business taxes? They are the direct tax imposed on the income or capital of corporations and legal entities by the state and its agencies. Business tax is also known as the direct tax.

 

How can I find a suitable tax preparation company?

How can I find a suitable tax preparation company? RKD offers professional tax preparation and accounting services. Our services are efficient and highly professional so contact us to get tax and accounting needs.

Call Now ButtonCALL NOW