In a bold move that showcases the spirit of entrepreneurship and innovation, Fahad Gul, a seasoned professional with a chartered accounting degree, bid adieu to his high-flying career at JP Morgan to establish his own firm, Tax App. This new venture not only reflects his determination to pave an independent path but also highlights his commitment to addressing the financial management needs of businesses and high-net-worth individuals. At the heart of this endeavour lies Tax App, an accounting firm with a technology edge to simplify and streamline various aspects of financial management.
In his interview Fahad said, ‘It took me countless hours and sleepless nights while performing my Manager role during the day at JP Morgan, so essentially I was working two jobs.’ Fahad claims that, ‘building Tax App has been the best thing I have done regardless of the hard work because I can see it impacting everyday Australians.’
The Birth of Tax App
The idea of building the app came to Fahad after the busy period at JP Morgan ended and Fahad wanted to make a direct impact on the lives of Australians. Fahad’s journey from the corporate world to entrepreneurship is a testament to his vision and determination. Fueled by a desire to provide businesses and high-net-worth individuals with a seamless financial management experience, he embarked on the creation of Tax App, an accounting firm that provides services to business and individuals and has developed a mobile application. This innovative app serves as an all-in-one solution for various financial tasks that were previously time-consuming and complex.
Key Features of the App
- Record Keeping: One of the primary features of the Tax App is its ability to record receipts efficiently. Users can digitise their receipts, reducing the hassle of manual data entry and minimising the risk of losing important financial documents.
- Invoicing Made Easy: The app empowers users to send invoices to customers directly, ensuring a smooth invoicing process and prompt payment collection. This not only improves cash flow but also enhances customer relationships.
- Financial Statements: Tax App provides users with the capability to generate profit and loss statements, offering valuable insights into their financial health. This feature aids in informed decision-making and planning for the future.
- Capital Gains Calculator: The simple capital gains calculator within the app assists users in estimating their capital gains tax liabilities. This tool is invaluable for investors and individuals navigating complex financial transactions.
- Remote Work Tracking: With the increasing trend of remote work, Tax App enables users to log their work-from-home hours accurately. This feature caters to the evolving work landscape and supports compliance with tax regulations.
- Mileage Tracking: The app also allows users to log travel kilometres for business purposes. This feature not only helps in expense tracking but also simplifies tax deductions related to business travel.
- Electronic ID Verification: In line with modern security practices, Tax App offers electronic ID verification. This ensures the authenticity of users’ identities and strengthens the overall security of financial data.
- Document Upload and Accountant Interaction: Users can conveniently upload documents for their accountants directly through the app. The integrated chat functionality also enables seamless communication with accountants for real-time assistance.
Focusing on Businesses and High-Net-Worth Individuals
Fahad Gul’s background in JP Morgan and as a Chartered Accountant equips him with a deep understanding of the financial needs and challenges faced by businesses and high-net-worth individuals. With Tax App, he aims to cater to these specific demographics, providing them with tailored solutions that save time, reduce complexity, and enhance financial control.
Fahad Gul’s decision to leave a prestigious role at JP Morgan to establish Tax App demonstrates his commitment to innovation and meeting the evolving needs of modern businesses and individuals. The Tax App’s impressive array of features, ranging from receipt recording to real-time interaction with accountants, showcases Fahad’s vision for holistic financial management solutions. As businesses and individuals continue to seek streamlined and efficient financial processes, Fahad’s Tax App stands poised to make a significant impact on the landscape of financial management.