Tax-Saving Moves to Start the New Year Right

As we enter 2025, it’s the perfect time to review your financial situation and implement tax-saving strategies for the upcoming tax season. For Maryland residents and businesses, understanding state and federal tax laws can make a significant difference in reducing tax liabilities. At AK & Associates, we’re here to guide you through these strategies to help […]

Understanding the Beneficial Ownership Information (BOI) Report

What You Need to Know and How to Avoid Penalties With the evolving landscape of corporate transparency and regulatory compliance, businesses are now required to submit Beneficial Ownership Information (BOI) reports. If you’re a business owner or stakeholder, you might be wondering what exactly a BOI report is, how it affects your business, and what […]

Achieving Work Life Balance

The Disconnect There is a disconnect between income and net worth. Earning more does not create contentment. Often those who make more spend more and foolish people almost always spend more than they earn, no matter how much! At the same time, those with less commonly save and amass wealth. Many people think making more […]

Travel & Transportation

1. What are the basic rules and limitations regarding the deductibility of travel expenses? A travel expense must be ordinary and necessary, incurred while away from home, and incurred in the pursuit of business. The expenses must be reasonable. In other words, the expenses cannot be “lavish or extravagant.” Travel expenses include costs of meals […]

AK News, Year in Review

New Bundle Service Packages As we continue re-branding our organization, we have launched customized service packages for small business clientele.  We understand small business owners and entrepreneurs need comprehensive accounting services yet often lack the budget and resources.  Thus, we have created multi-tiered bundle packages to provide objective analysis and recommendations. Starting from their financials, we use insight into […]