When tax season rolls around, it’s not uncommon for individual tax payers and business owners to panic. Some owe back taxes, fearing the IRS will seize their assets and place a lien on their properties, causing anxiety and stress. But one company can help put their minds at ease: Lauderhill-based KAKE Financial.
With over 50 clients nationwide, KAKE Financial is known for resolving tax issues, such as negotiating settlements or extended pay periods with the IRS.
This includes clients who owe the IRS $10,000 or more and believe their lives are in shambles. Founder and CEO Kerrina O’ Connor, 33, offers them comfort by proposing tax resolution plans to settle their debts without having their wages garnished and assets seized. “They feel that there’s nothing more they can do and it’s over,” she said. “I tell them there’s no shame in owing the IRS and there are options that something can be done.”
Born in Jamaica, O’Connor said her focus is not only helping people with their debts, but to also make sure they don’t end up in the same predicament next year by planning ahead of schedule. “I make sure I know what their goals are for their businesses and help them prepare for the April 15 deadline,” she said. “It comes around the same time every year, it doesn’t change. I always tell my clients to have all their documents in order like bookkeeping, W2 form and 1099 form. I help them get more proactive in preparing their documents.”
As the only agent at KAKE Financial, she welcomes the workload despite it being overwhelming during tax season. And if the workload becomes enormous, she contracts her father’s accounting firm to help her out.
After earning a bachelor’s degree and master’s in finance from Florida International University and guidance from her father, O’ Connor’s business has been thriving. “Tax season, I’m working almost around the clock,” she said. “But it’s exciting and it’s what I love to do. Eventually, I will have someone [tax agent] working for me. But in the meantime, I love doing my clients’ taxes.”
She said she found accounting boring and wanted to venture into tax resolution. “I find it more rewarding,” she said.
O’ Connor offers the following advice to aspiring entrepreneurs who also want to achieve the same level of success.
“Invest in yourself and trust yourself at all times,” she said. “For Black women, I encourage them to join women business groups to get a lot of connections to help them.”
