Hanna"s Accounting,Bookkeeping and advisory Services

08/23/2024

Good business project idea, food truck

06/20/2024

We all have dreams in having a successful and prosperous business enterprise and work hard to make our dreams happen. As small business entrepreneur you may need help in specialized areas such as finance and cost accounting to ensure that you price your products correctly and figure your production costs accurately to generate profits and maintain positive cash flow position.
If you feel you need assistance in these areas, contact me Hanna Consulting Services :https://lnkd.in/eyVF3zGm
Hanna"s Accounting and Financial advisory Services will assist in solving your accounting and cash flow problems

10/18/2023

Do not gamble with your hard earned money. Seek safe investments, invest in gold, REIT investment, this is the financial outcome of Multi-Family flipping real eatate project I was involved in preparing its financials for investment purposes. If you would help in similar projects, please contact me 978 844 7429.

02/26/2023

Using an advisor in managing your business increases the value of your business and improves its profitability. A recent study found that, on average, a hypothetical business investment would grow to over $3.4 million under the care of an advisor with over 25 years’ experience, while the expected value from self-management would be $1.36 million, or 60% less. In other words, an advisor-managed business would yield an average 10-25% annualized growth rate over an 8-year period, compared to 8% or zero% from a self-managed business.

As a promotional gift, HANNA CONSULTING SERVICES decided to offer one hour consultation free of charge to small and midsize businesses.
Contact HCS:[email protected]
The business issues or problems that HCS will entertain, and answer are related only to the financial performance of your business whether it is related to your accounting or marketing issues of selling your products and or services.

02/02/2023

This post is to expand your horizon about the importance of financial analysis in improving your company's profitability and sustaining its growth.
Summary of The Financial Management Process
Don’t think that reporting the accounting results of your business is by itself the final step in managing the financial performance of your business/company, on the contrary it is just the first step. Accounting data is by nature represents historical data your accounting system captured and recorded based on decisions you have made in running your business.
The second step which is important is the financial analysis of this historical data to find out the areas in your business where results fell short of management expectations. Financial Analysis is a technique used by mature financial professionals to uncover weak performance areas in the business. The Financial analysis techniques vary in its complexity and application based on the financial problem at hand.
Example: Sales; they compare current sales to last year’s and the year before sales, and analyze the reasons for growth or the reasons for decline. The purpose of the analysis is to highlight the causes behind this growth or its decline and take the appropriate actions to capitalize on the growth opportunities and avoid or remedy the causes of sales decline. Refer to the attached analysis.
The third step is Financial Planning and Budgeting, and these are the financial tools used by all big and successful companies to better manage their businesses and institute accountability. This is a big subject to explain here. If you are interested call or email Hanna Consulting Services: [email protected], telephone (978) 844-7429

11/29/2022

If you are 50 years or older and have thought about planning for your retirement? or if you already have 401K retirement account with your employer or even have your own Roth 401(K) plan, do you manage and control their performance to see how far you have reached into your retirement goal?
Do not worry, Hanna Consulting Services has developed a tool (excel sheet) that will make it easy for you to calculate how much you need to save to reach your retirement goal.
The attached image (excel sheet) reflects an individual who had 150,000 saved at age 55 and wanted to generate $40,184 in fixed annual income at age 65. In the model we assumed that this person would save $886 monthly which amounted to $10,632 annually and invest this money in an investment vehicle that would yield 8% annually.
The combined total investment savings (retirement account) after the 10th year add up to $502,303 which include principal payments of 256,320 and compounded interest of 245,983.
Note: the $256,320 amount includes the original saved amount of 150,000.
I suggest, although your cash flow may not allow you to fully fund your plan, making contributions at least equal to your employers matching contribution to maximize the intake amount of your plan account. The Maximum 401(k) contribution limits are $20,500 for 2022 and $22,500 for 2023, with those who are over age 50 allowed to contribute an additional $6,500 in 2022 and $7,500 in 2023. Depending on your situation, you may want to consider taking advantage of a Roth 401(k) feature if offered by your employer. Utilizing a Roth 401(k) will result in higher current income taxes, but will provide you with tax-free, as compared to tax-deferred for 401(k) plan.
If you are eligible, consider funding a Roth IRA instead of a traditional IRA. Roth IRAs grow tax-free and are not subject to RMDs, compared to traditional IRAs that grow tax-deferred and are subject to RMDs once you reach age 72.
Send me the following:
1) The total amount of your savings, current balance of your savings account.
2) The amount of money you could save monthly.
3) Your age, and fixed income you desire to receive at 65 your retirement age.
4) Payment of $50 USD to cover my fee, and
I will answer you back with the investment amount you need to generate such fixed income at your retirement age, and how many years at what percentage of interest yield required to accumulate such wealth to generate such fixed income.

11/03/2022

If you 40 or 45 years of age and thinking about your retirement, Hanna Consulting Services has the answer. Hanna's develop a financial tool that would make easy for you to plan for your retirement, it is called Your Net-Worth Analysis as shown on the excel template.

11/03/2022

New Financial Service added to Hanna's Business.

Check out this Logo designed by Samir Hanna.