There is a specific scenario in the SARS system that causes more panic than almost anything else — and it’s one that most business owners have never heard of until it happens to them. SARS sends an assessment. The amount on it bears no resemblance to what you actually owe.
Most business owners who earn income outside a regular salary encounter provisional tax for the first time by missing a deadline they didn’t know existed. Then the penalty arrives. Then they call their accountant. Then they learn — after the fact — that provisional tax isn’t a surprise at the
Most business owners set their prices once — usually when they started — and never revisit them. They add a reasonable margin, check what competitors charge, and pick a number that feels fair. Then they leave it there for years. Meanwhile, their costs go up. Their expertise grows. Their clients’
Most business owners receive an income statement every month. Most file it away within 30 seconds of opening it. That’s understandable. Nobody ever explained what it actually means. But the income statement is the document that answers the most important question in your business — and it’s not a complicated
Most business owners have one. A client that pays on time, never complains, takes up a big chunk of monthly revenue, and has been there so long they feel permanent. Until the day they send the email. It happens more often than people expect — and the businesses that survive
Most business owners take money out of their company account when they need it. A bit in January. A bit more in March. School fees paid straight from the business in April. Nobody writes any of it down — it feels too small to bother with, and there’s always a
Most business owners know they’re supposed to care about profit. What fewer of them know is that there are two very different numbers that both get called “profit” — and confusing them is one of the most common reasons a business owner thinks they’re doing well when they’re actually not.
Most business owners have heard the term. Many have been asked for one. Very few know exactly what it is, how to get it, or why it sometimes comes back blocked at the worst possible moment. Here’s everything you actually need to know. What SARS Actually Says First, a
The word ‘audit’ stops most business owners cold. It shouldn’t — but it will, until someone explains what an audit actually is. A SARS audit is not a criminal investigation. It’s not a sign that you’ve done something wrong. It’s SARS asking you to show your working. For most businesses
Most business owners are leaving money on the table with their travel claims. And they don’t know it. Either they’re claiming too much without the records to back it up — or too little because they’re not sure what’s actually allowed. Both approaches cost you money. One through penalties. The
