Payroll: how to avoid penalties at SARS and the Department of Labour
Payroll in South Africa is not as simple as it seems. Getting payroll penalties is common and they are easily picked up and go unnoticed. Payroll Requirements There’s a long list of requirements and submissions for payroll that your company needs to comply with to avoid penalties from both SARS and the Department of Labour […]
A 2 step guide to guaranteed increase in profit
Profit, what is it? In order to understand how you can guarantee to increase your profit, you need to know what profit is. For the purposes of this article there will be no tax implications, so profit is the “amount left over” after you have taken all the income and taken the expenses from it. […]
Do you need to submit a company income tax return?
What is a company income tax return, and do I have to submit one? The short answer is yes. There is a misconception that if a company does not have to submit a company income tax return every year. It is a legal requirement for all registered companies to submit a company tax return on […]
Company Tax Returns: what you need to know
To many small business owners, their company tax return is the last item on their to do list but the one that is likely to cause the most anxiety. This may be the feeling to you but it is really unfounded. The Last Item The company tax return is actually the last item in a […]
Just one more role to go
All roles in one You own your own business, great! You started in your home and you did everything. Nothing wrong here. You were (and still are) excellent at what you do, so your company grew and continues to grow. One extra person became two, became five etc. These helping hands help you manage to […]
More time, Is it really available?
Who couldn’t do with a few more hours in the day? Do you feel like you have been busy but have not really achieved anything at the end of the day? Well, you don’t have to stop the sun in its path to do that. Here are a few tips to loosen and free up […]
Company (entity) structures used in SA
There are a lot of questions that can be asked when someone advises you to “open a company”. It is a great piece advice but depends on various factors. This depends what kind of entity you want to run and why. Sole Proprietor Characteristics Most common and the most simple Owned and operated by a […]
Change is not restricting
Technology of today Currently the technology is changing almost daily. Whether you like or not, you have to keep up. Standing still in the river (of technology) is actually going backwards. What about in the accounting world? Historically, things do change but extremely slowly. The basic principles of accounting have not changed and will never […]
Reports: What’s the point?
Reports and gym? This may seem like a funny start to an article about business reports but the gym I go to is on the first floor of the building (second if you park in the basement). In any building if I can, I will take the stairs, to a reasonable floor that is. The […]
Cash in your business: How to (properly) report it in your business
Cash in my business? Still? For those who may have forgotten, cash is that paper and metal money that you used to pay for items with ;-). Surprisingly, Cash in your business is still a reality in many businesses. We assumed that debit cards/zapper/ SnapScan, etc. would come into the world and take over. It […]