There is no doubt that compliance plays a significant role in every entity. For smooth operation and other advantages that comes with it. Compliance will help your company avoid legal risks. Lawsuits and settlements can easily cost you millions of rands. Fines and other compensatory payments can also add up. Even if you are ableContinue reading “AVOID SHORT CUTS TO COMPLIANCE”
Category Archives: Financial Literacy
Individual tax season, provisional tax payers and SARS auto assessment.
Individual tax season has opened, the official filing resumes on 07 July 2023. From 30 June to 07 July SARS will be issuing communications to all the tax payers that have at least less complicated tax affairs auto assessment via text or email.If you have not received one yet, please wait a bit till theContinue reading “Individual tax season, provisional tax payers and SARS auto assessment.”
What happens when I don’t make use of the business bank account yet the business is trading?
What happens when I don’t make use of the business bank account yet the business is trading? I am not sure how best to respond to the above question other than say “it is a self sabotage” When a business is registered, it is given its own legal entities. Name of operation, registration number, taxContinue reading “What happens when I don’t make use of the business bank account yet the business is trading?”
PAYROLL TECHNICALITIES FROM AN EMPLOYER AND EMPLOYEE PERSPECTIVE
I am writing this blog at the right time where many employers are already in the middle of preparing their monthly payroll run. The objective of the blog is to breakdown the distinctive features of payroll from an employer and employee perspective. 1. EMPLOYEE – as an employee you do not worry much about theContinue reading “PAYROLL TECHNICALITIES FROM AN EMPLOYER AND EMPLOYEE PERSPECTIVE”
DO I HAVE TO PREPARE THE FINANCIAL STATEMENTS AS A SMALL BUSINESS?
We are always asked this question by small business owners when they need us to generate the SARS Tax Compliance Pins. And the answer is simply YES. I would like try to simplify the reason why that is the case. The most basic requirement of compliance is that you must submit the Tax Annual returns.Continue reading “DO I HAVE TO PREPARE THE FINANCIAL STATEMENTS AS A SMALL BUSINESS?”
YEAR END CHECKLIST FOR BUSINESS OWNERS
This is the last blog entry for the year and I just thought it would be befitting enough for every business owner to do a bit of “stocktake” with regards to their business standing. I have realised that many business owners do not really know their businesses legal entities and how and when to maintainContinue reading “YEAR END CHECKLIST FOR BUSINESS OWNERS”
BUSINESS OWNER BANK STATEMENT REVIEW
Dear Business Owners The end of the year gives us an opportunity to do some introspection. If you have not been doing things the right way, as far as record keeping is concerned – please aim to do things differently in the new year. Your business depends on it. I just thought while we areContinue reading “BUSINESS OWNER BANK STATEMENT REVIEW”
BUILD AND GROW YOUR BUSINESS BY UNDERSTANDING TAXABLE DEDUCTIONS
There is a famous quote that says – a non financial person when a transaction happens they only recognise one entry. As an accountant that works with various small to medium businesses i tend to agree. Doing so with no judgement of course 😉 Though the most recognised entry is that of an Income, itContinue reading “BUILD AND GROW YOUR BUSINESS BY UNDERSTANDING TAXABLE DEDUCTIONS”
BUSINESS PRACTICES
I was invited for an interview by YOU FM and therefore decided to create a blog out of the questions that were asked. 1. What are the basic business practices?1)a. Making profit – you must never compromise on this important business principle. For anything that will comprise the business from making profit, it is notContinue reading “BUSINESS PRACTICES”
Getting out of Debt
Getting out of debt I am sure this may be one of the difficult exercise you may need to embark on. But for a healthy environment is deemed necessary to happen to create a positive environment for yourself. Let us first realise that the decision to cut off your debts does not only involves payingContinue reading “Getting out of Debt”
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