What does a new tax year mean? Well, it can mean multiple things. 1. Are you an employer and responsible for employees tax deductions as a results of PAYE, UIF, SDL and other taxes?– February is the end of individual tax year. The ITR12 tax periods range from March to February the following year. ThisContinue reading “Happy New Tax Year 🎉”
Tag Archives: #tax
Small Daily Actions that helps increase your productivity
I wanted to take a break from sharing finance content today and rather share a bit of what helps me to be productive. I gather the tips may help other business owners/ even professionals too. 1. Don’t Make It Too Complicated Making money is not complicated.Almost anyone can do it. Sadly, so many people makeContinue reading “Small Daily Actions that helps increase your productivity”
Steps on how to Organize Your Business Finances
Starting your own business is overwhelming to say the least. There’s always something new to learn and a mile-long to-do list that you’ll probably never finish. Even though it can feel really intimidating, ignoring your business finances isn’t an option. If you want to avoid getting in trouble with the tax institutions / government, andContinue reading “Steps on how to Organize Your Business Finances”
Dear Business Owner – Happy New year 🎊 – Bookkeeping Processes
What is your plan to change or improve how you do things in your business as far as compliance is concerned? The mistake that many business owners make is only focusing on the yearly records but the truth is those are a build up from daily transactions to weekly, monthly, quarterly then yearly. I haveContinue reading “Dear Business Owner – Happy New year 🎊 – Bookkeeping Processes”
Basic Bookkeeping Principles for a Small Business
We just had our last webinar with our sister company Bookkeeping Academy (Pty) Ltd under the topic Basic Bookkeeping principles for a small business…This blog post is a detailed summary of the discussion we had with the attendants. What is bookkeeping and why is it important? Bookkeeping is the process of recording your company’s financialContinue reading “Basic Bookkeeping Principles for a Small Business”
INDIVIDUAL INCOME TAX & SARS E-FILING MASTERCLASS
WHAT IS INCOME TAX We just had a masterclass webinar on Individual Income Tax Returns hosted by our sister company Bookkeeping Academy – http://www.bookkeekingacademy.org Income tax – is a tax governments impose on the income thatbusinesses and individuals generate PAYE– Individual income tax is deducted on the employee salaries by the employerand pay the fundsContinue reading “INDIVIDUAL INCOME TAX &
SARS E-FILING MASTERCLASS”
The Process of Accounts Receivable
In the pursuit of operating our businesses we also build relationships that are professional and beneficial to our entities. This includes having to offer your goods or services on credit to your customers / clients. In a form of the “Get it now and pay later” system. Bear in mind that this is the incomeContinue reading “The Process of Accounts Receivable”
Financial Terms that every business owner should know and understand
As a business owner there are a few financial terms you need to know in order to understand your finances.I am going to break them down and explain them in plain English. Because jargon is no fun at all, and really, they aren’t difficult to understand. 1. Gross Income Gross income is the amount ofContinue reading “Financial Terms that every business owner should know and understand”
Small Business Taxes you must know about
1. Income Tax– Income tax is the tax you pay on any money your business earns. Each year, you need to lodge a tax return to tell the South African Receiver of Revenue ( SARS) how much money your business has made and how much tax you are expected to pay. This will be determinedContinue reading “Small Business Taxes you must know about”
The benefits of outsourcing Bookkeeping and Accounting functions in your business.
1. Cost Savings– To succeed in business, accurate and timely financial records are vital. They can help you determine if the business is making money or losing it. Your financial records indicate if your business is financially sound or if adjustments need to be made. Outsourcing your bookkeeping can improve both the accuracy of yourContinue reading “The benefits of outsourcing Bookkeeping and Accounting functions in your business.”
Matsobanemetja Business Consulting Pty Ltd 