Time is money, so save it by doing this!
Time – never brought back again Time is an illusive beast and is the most valuable commodity in the world. this is because once spent, you can never get it back or get more by buying it. We all know the old saying of “time is money”, well it is 100% accurate. Today, more than […]
Payroll function? Do you know what it is?
What is the payroll function? Payroll is a critical part of a business in that it pertains to all the salaries and the payments that are involved with them and there is often confusion between payroll and HR (Human Resources). Payroll is the payments side of the department whereas HR is the more legal side […]
The Importance Of Outsourced Accounting Services
Why outsourced accounting? Accounting is the most vital aspect of any business because it ensures that financial decisions made are based on a sound base. However, many people either do not understand accounting or just do not want to do it. Hence, most business owners would rather hire a full-time accountant than outsourcing accounting services. […]
Accountants and bookkeepers – Do I need them?
I thought bookkeepers and accountants were the same? Not a lot of people actually know what the difference between a bookkeeper and an accountant is. This creates confusion as to which one they should hire and do they need one (or both)? Why you should consider hiring someone to help manage your accounting, to begin with. […]
Financial roots: why should they run deep?
In trees: When is the best time to plant a tree? 25 years ago, BUT the next best time is now.” Deep roots are imperative to a tree for 2 reasons: 1. They provide stability to the tree in tough conditions. A strong wind or rough storm will easily blow trees over but if the […]
Standards in Accounting ensure no grey areas
Standards and regulations Any industry has its own standards and regulations. This is especially true of the financial sector. The accounting side of this is no different. It is a strictly controlled section of the industry. It is unfortunate that a lot of business owners either don’t know or do not believe there are regulations […]
To work remotely or not, that is the question!
The world now works in a completely different. The question for all businesses is now, do we actually need an office? Having worked in an office for years, to work remotely may be an attractive option. There are, however, some practical issues to consider before you start setting up your office. When starting, running a […]
Business costs: 4 ways to save
How do you increase profits (or your bottom line)? There are two options – increase sales or cut the business costs and save. 1. Know your options Service providers and suppliers often offer discounts if certain requirements are met. Make sure you know what the options are. These may or may not be feasible for […]
Additional income and tax: Rental income
But what about all the expenses I pay for the property?
Yes, the taxable amount (rental income) may be reduced as you may incur expenses during the period that the property was let. Only expenses incurred in the production of that rental income can be claimed. Any capital and/or private expenses won’t be allowed as a deduction.
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. […]