One discipline, different areas of the finances – who should I look for?

Finances are inseparable connected to our lifes – but as soon as we have any issue with the finances that needs to be resolved- we discover that the field of the finance is very broad (also our affairs, too, often go beyond one area of expertise). Below we divide those areas and describe them to help you find the right people for your specific case.

We can say that there are few areas in finances that differs from each other in every country – remembering that there are specialists who combine different fields – however, this is more often at the expense of detailed knowledge in a specific field. So the more extensive your knowledge, the less detailed you have in specific areas of a given field (including taxes):

In case you are starting your own business activity (it’s always difficult in the beginning) and have a problem which documents should you fulfill and submit and don’t know about which steps you should take and where to go- you need an accountant. His world is more complicated with bigger companies, but basically we can say that the role of an accountant is to do all the calculations for calculating the tax properly (usually for the purpose of the local tax office). Their field of activity is recording of economic events that affect the operation of the company. And also they now what specific forms need to be send according to local tax legislation. They know the daily specifics and individual taxation cases, cooperate with tax offices on a daily basis and know the practice and possible practical consequences of individual tax solutions. They can’t officially advise. You will need one if you decide to open a sole proprietorship probably (minimum in a first year of your business activity). Atlhough: they often do not advising which form of taxation you should pick or they don’t know the international law in case of avoid the double taxation for example (I mean all offices – of course, among them there will be offices that provide broader services on the border of various functions)

– tax advisor- he will give you answers for a specific question in the light of a polish legislation. Usually they will tell you about specific paragraphs that are connected to the questions you have. This is the only group among those who can officially advise on taxes. Although due to the specificity of tax law in Poland (the interpretation of a given provision may differ depending on the specific taxpayer and the tax office that makes this interpretation), their work focuses in specific cases on the appropriate formulation of the tax interpretation request for a specific taxpayer to a specific tax office. They usually speak a specific, legal language (because of specification of their profession) – which may be difficult to understand for a recipient who does not use a language specific to tax regulations on a daily basis. Even in cases where the recipient of the message is Polish. So they can give you very specific information from the tax legislation area but will not advise you from the wider perspective. For example: they will not do the calculations which kind of business activity (which taxation) would be the best for you in a case of amount of taxes you should pay;

– law firms: according to their profession – they will advise you usually from the different sides of a law legislation (also tax legislation). They know the legislation well and are able to find practical application of their knowledge. But they usually don’t know the finances in details (of course there are the lawyers who are specialized in one of the areas of the finances in the case of law- but it’s more usually connected to the corporate law). They have wider knowledge about law than the tax advisors („Doradca podatkowy”) but also less deep in the light of taxes strictly.

– credit brokers- they are certainly in the field of finance, but their field is not of interest right now from your point of view

– finansists: they have the broadest view of finance from among the groups mentioned. Their origin most often comes from one of the aforementioned specific professional groups (and at some point is extended to include basic knowledge from other areas related to finance, including taxes). Often associated with financial analysis, calculations, financial models (financial controller, CFO) or business plans. it is also often the first level of talks from the strategic point of view of enterprises, as well as from the point of view of the „first look” at a given financial problem. Their field of interest is finance from a purely practical point of view, facilitating making management decisions and formulating long-term business strategies. Their solutions in their specific aspects may require more detailed knowledge of one of the aforementioned professions (lawyer, tax advisor, accountant, credit broker, property appraiser).

I belong to the last mentioned group. I often describe myself as „translator from numbers into human language”. Although I’m not the „Doradca podatkowy” (tax advisor) my advice cannot be treaten as one of „official tax advice”. In the other hand – I successfully handle most of the cases from the field of finances sent by Moana Consulting. Sometimes in the finale – I send the client with the general solution to the specific expert mentioned above.

I hope I have outlined the different types of financial activity in different areas in a clear way.

Thank you in advance for fuhrer informations from you and decision if you see the field for cooperation between us.

PS: you haven’t attached the documents you mentioned in your e-mail.