Competencies

Core Mission and Competencies

 

In facilitating the success of small businesses, the team of Ford Tax & Accounting implements the following two part core mission statement:

 

 

Accounting

Demonstrating a strong commitment to fulfilling it’s mission, Ford Tax & Accounting assists small businesses in communicating business financial operating results to the stakeholders in the world in which the business operates. Stakeholders include governmental agencies, investors, creditors, suppliers, customers, and the communities in which businesses operate. These financial operating results also provide businesses the information necessary to evaluate, control, and plan future business operations.

Accounting (advanced bookkeeping) services provided by Ford Tax & Accounting, include the systematic and comprehensive recording of financial transactions and economic events pertaining to a business. Generally Accepted Accounting Principles (GAAP), as established by the Financial Accounting Standards Board (FASB), are used as required.

Transactions are reviewed for relevancy, summarized, analyzed, and reported within the context of information reports that are financial statements summarizing a business’s operations, financial position and cash flows over a period of time. As necessary, Ford Tax & Accounting prepares the financial statements from various types of accounting such as financial accounting, cost accounting, tax accounting, and management accounting to help business management make informed decisions.

 

Financial Analysis

Making informed business decisions can be challenging. Financial statements prepared by Ford Tax & Accounting provide business management with vital financial information necessary to make the best possible decisions. While the actual numbers contained in the financial statements are important and must be accurate, those numbers are primarily accounting values to be related one to another, or to be related to comparable numbers of similar businesses within the same industry.

Studying the relationship of these numbers is the basis for financial analysis. These relationships are financial “ratios” which are to be analyzed. Ratio analysis enables a business to measure financial performance and creditworthiness. Creditworthiness reflects a business’s ability to pay its liabilities and assume additional debt.

 

 

Using the prepared financial statements, Ford Tax & Accounting supports financial calculations that present the relationship between two financial statement accounts. These relationships are ratios expressed in terms of liquidity, solvency, capitalization, and most importantly ––profitability.

 

 

Tax

 

The Federal tax code is one of the most complex documents ever created by government. The former IRS Agents of Ford Tax & Accounting and affiliate company Tax Trouble Help, LLC, serve businesses by interpreting and appropriately applying tax laws in a manner that is most advantageous to the financial interest of the businesses. These services are offered within the frameworks of tax research, tax return preparation, and tax planning for all business entities including, Sole Proprietorships, C Corporations, S Corporations, Partnerships, and Limited Liability Companies (LLC).

 

Assisting businesses in complying with tax laws is a primary objective of the former IRS Agents of Ford Tax & Accounting and Tax Trouble Help. It is extremely difficult for a business to continue to operate when it is encumbered with IRS problems. Management has the expertise to successfully direct business operations as a viable going concern. However, management is generally not equipped with the knowledge, skills, and abilities to adequately understand, and successfully navigate through the maze of tax law complexities, regulations, and rules.

 

The “inside” IRS knowledge, experience, and insight of the former IRS Agents of Ford Tax & Accounting and Tax Trouble Help are invaluable to businesses seeking to avoid future IRS problems or gain relief from existing IRS problems.

 

The credentialed professionals and support staff of Ford Tax & Accounting recognize that accounting, financial analysis, and tax are critical functions of a business operating within any industry, and therefore Ford Tax & Accounting is committed to delivering competent, effective, and ethical services in these areas that contribute to the financial successes of the business.

 

 

Core Competencies

 

The former IRS Agents, accountants, and other professionals of Ford Tax & Accounting possess a unique combination of technical knowledge, business knowledge, and human interpersonal skills that provide value and results to clients. Continually enhancing our core competencies is key to sustaining a competitive advantage in the marketplace.

 

Communication and leadership skills are demonstrated by providing information to clients within a meaningful and actionable context delivered with appropriate interpersonal skills. It is important to influence, and motivate clients to achieve results based on information provided. Ford Tax & Accounting has the ability to actively listen and gain understanding of explicit and implied needs of clients by asking targeted questions to strategically probe for important information which is used to provide the client with insightful information reports and quality advice that will facilitate the strategic decision-making of the client.

 

Ford Tax & Accounting obtains data from a variety of financial and non-financial sources, providing the meaning behind this data which can be used to evaluate business performance and identify potential areas of financial growth based on changing market dynamics and needs of clients.

 

 

Business Experience

 

 

Ford Tax & Accounting are experienced in providing tax and accounting information services to small businesses. The information provided assists business owners in communicating business financial operating results to the stakeholders in the world in which the business operates. Stakeholders include governmental agencies, investors, creditors, suppliers, customers, and the communities in which businesses operate. These financial operating results also provide businesses the information necessary to evaluate, control, and plan future business operations.

 

The following are references and brief descriptions of various tax and accounting services rendered by Ford Tax & Accounting.

 

 

Case Examples Serving Small Businesses

 

Important Note: The case examples have contract values of services delivered stated below based on an hourly rate or flat fee that was actually charged or would have been charged by Ford Tax & Accounting for the client engagement. In certain cases Ford Tax & Accounting accepted a smaller fee due to the financial limitations of the community based program from which the client was referred.

See attached references and descriptions.

 

Southwest Solutions – Prosper US Detroit

 

Business Served: All About Technology, Inc. and Detroit Luxury Transportation, LLC

Services Delivered: Accounting financial statements, Quickbooks accounting software training

 

 

Tech Town Detroit

 

Business Served: “Anonymous” health treatment center in Detroit

Services Delivered: Accounting and business analysis, IRS tax case representation

 

Business Served: SWOT City program food service and retail in Detroit

Services Delivered: Accounting analysis and tax return preparation

 

 

Great Lakes Women’s Business Council (formerly CEED)

 

Business Served: Various service, retail, wholesale, and small manufacturing

Services Delivered: IRS tax compliance and tax savings strategy presentations (including webinar)

 

U.S. Small Business Administration – Emerging Leaders

 

Business Served: Various service, retail, wholesale, and small manufacturing

Services Delivered: Accounting and IRS tax compliance guidance

 

 

 

 

Personnel and Organization

The former IRS Agents, accountants, and other professionals of Ford Tax & Accounting will continue to operate as a Limited Liability Company (LLC) while providing technical assistance services for Motor City Match small business program participants.

 

Project Principals

(See attached resume for additional information)

 

Staff/Staff Qualifications

(See attached resume for additional information)

 

Capacity and Local Availability

The Ford Tax & Accounting team will arrange to meet Motor City Match small business program participants at our offices or any location that is convenient for the program participants. Any charges for meeting space are reflected in an hourly rate or flat fee.

The current workload for the Ford Tax & Accounting team is the average and being managed well. Therefore, there is substantial capacity to serve additional clients from the Motor City Match small business program.

 

Fees and Expenses

Ford Tax & Accounting will determine additional fees and expenses for each client on a case-by-case basis. Frequently, no additional fees or expenses are incurred, and therefore no additional fees are assessed to the client.