Accounting Tax and Financial Services- Fahim Ekbal Moledina

Accounting tax and financial services support businesses through various tasks, including preparing tax returns, reconciling bank records, handling employee information, and complying with federal and state regulations.

These services steer business owners closer to their goals with accurate record-keeping and reporting, and support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit plans.

Fahim Ekbal Moledina is a solutions-focused strategist who has been leading organizations for over a decade to meet their targets and focus on continuous improvement. I have considerable experience in change, product, and project management. I am a professional project manager, certified agile, and change practitioner. I have expertise in business process re-engineering, workforce planning, leveraging technology and software, and enhancing operations to eliminate waste and successfully helped multiple companies in meeting their long-term goals and generating actionable strategic plans.

Business Entity Selection

Choosing the right business entity for your company is one of the most critical decisions you will make. It can have a significant impact on your tax liability, personal liability protection, and the ability to be financed and run efficiently.

Selecting the right entity is particularly important for entrepreneurs who are planning to grow their company. For example, if you plan to add ownership interests in your company, you will want to consider a partnership or a limited liability company (LLC).

The choice of business entity should be carefully weighed against many factors including: the owner’s objectives for running the business; the business’s anticipated cash flow; and the owner’s personal tax return. Entrepreneurs should also consider the Federal and state tax consequences of each type of entity.

Business Transactions & Transitions

Business transactions are financial events that occur between two or more parties and have a monetary value. They can affect a company’s financials and are usually recorded in a business’s accounting records.

In the context of a business, transactions can include purchasing goods from a vendor, paying rent and utilities, or selling goods to customers. They can also involve the transfer of ownership between family members or between business owners and a third party.

Whether it’s a sale to a third party or to family members, business transitions are often complex affairs. They require the help of many different experts to ensure a successful outcome for both the buyer and seller.

It’s important to understand how your specific transition path will impact who you need on your team of professionals. For example, if you’re planning to sell your business to a third party, you may need an investment banker, merger and acquisition attorney, CPA, and financial advisor.

Employee Benefit Plans

Employee benefits are a vital component of business success. They can help attract and retain talent, boost morale and increase productivity, reduce absenteeism and health care costs, and contribute to the bottom line.

They can also provide protection against unexpected events, such as illness or injury, and help workers save money for retirement. Providing these benefits can be an expensive investment for employers, but the value of employee benefit plans is often worth it.

An employee benefits plan should be designed to address the organization’s overall goal and budget, as well as employee needs and wants. These goals should be evaluated and revised to ensure the plan remains competitive and provides the greatest return for the employer and employees.

Debt Management & Financing

Debt management and financing are critical functions for governments during normal times, but become especially important during financial crises. A well-designed, implemented, and communicated debt management strategy permits fiscal policy to operate efficiently while minimizing financial portfolio risks relating to market movements and debt rollovers.

A poor debt management strategy can induce adverse investor sentiment, raise debt-servicing costs, damage government reputation, and exacerbate market instability. This can result in the loss of confidence in government debt and make it difficult for the country to access external capital markets.

Public debt management policies should set clear objectives for the management of government debt; recognize that debt management is distinct from monetary policy; and provide for clear allocation and coordination of debt management objectives and accountabilities. They should also contain limits on debt expansion; sound risk management practices; and clear operating procedures for reducing operational risks, including sound business recovery procedures to minimize the possibility of serious disruption of operations due to natural disasters or social unrest.

Accounting

Accounting and taxation are two of the most important components of a successful business. They are crucial to staying on top of the competition, improving customer satisfaction, and retaining and attracting talent.

For business owners, the complexities of the tax code can be daunting, but professional accounting and tax services can help you navigate the maze. Among other services, they may prepare your tax returns, audit your financial records, and manage employee information.

They can also provide insight into the financial health of your company, and give you the tools to spot opportunities that others miss. For example, they can identify areas of potential improvement or cost savings that may benefit your bottom line. They can also point you in the right direction when it comes to finding the best deals on equipment or supplies, and advise you on whether a purchase is worth the investment. Depending on the scope of your needs, accounting and tax services can be outsourced to a third-party or performed in-house by an accountant or bookkeeper.

Taxes

Taxes are payments collected from a company or an individual to fund a variety of social security and health services, as well as infrastructural needs. The government collects these taxes for a number of purposes, including building roads and school buildings, funding public hospitals, and supporting government employees’ salaries.

Most countries impose a value-added tax (VAT) on purchases of goods and services. Most VATs, however, exclude purchases of some categories of goods and services, such as food and public transportation services.

Consequently, financial institutions have an incentive to vertically integrate into their business activities and produce inputs that are needed in their rendering of exempt financial services. They could, for example, purchase bank forms and stationery in-house rather than using outside suppliers if it would be less expensive to do so.

There are a number of approaches to taxing financial services under a VAT, each with its own pros and cons. The choice must ultimately be made after weighing the revenue consequences against economic distortions and administrative and compliance costs.

Payroll

Payroll is the process of calculating and distributing employee wages, taxes and benefits. It is one of the most essential parts of running a business.

It is also important to know how to keep accurate records of payroll expenses and taxes. This can help you avoid expensive penalties and tax audits.

Regardless of the size of your company, a payroll system can help streamline many of these processes. It can also provide detailed reporting and make it easier to file tax returns and other forms.

In addition, these systems are often compatible with existing back-end accounting and HR software. This makes it easier for accountants to implement payroll automation, and for HR departments to stay on top of their duties.

This means that if your business expands, you can easily integrate new employees into your payroll system. Moreover, you can track changes in your payroll costs as the makeup of your workforce changes. This can make it easier to assess profitability and determine whether you should grow your business or cut costs.

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