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The 9 Hats of an Entrepreneur – Family Member
Oh, to be single and have no responsibilities or time barriers. Just think about how much work we could get done without the nagging of family commitments. Sound familiar? Well, let me share with you [...]
Financial Management – When can salaries be a sales cost?
Last week we looked at income and the various types of income as part of our mini-series on the elements of your financial statements. Today we’re looking at a very misunderstood area – the cost of [...]
The 9 Hats of an Entrepreneur –Non Executive Director
First, let me explain what the difference is between an Executive Director and a Non-Executive Director is and what their hat looks like. Any board of an organisation is made up of paid staff and [...]
VAT efficiency, maximizing the 1% increase
We continue discussing the issue of the VAT and its implications for your business. Today we look at how you can make your business VAT efficient, especially with this VAT increase already in effect. If [...]
Financial Management – When is income really income?
Over the next few weeks, we’ll be looking at the various pieces of the puzzle that are the financial statements, so that you understand where to look for something, where information should go, and what [...]
I run a business and I have never submitted tax what should I do
Every business that is liable for tax under the Income Tax Act, 1962 is required to register with SARS as a taxpayer within 21 days of becoming liable. This registration can be done once for all different tax [...]
Don’t get caught with mothballs in your wallet
‘Cash is king’, says everyone to a small business owner. It’s not a platitude, it is true. It doesn’t matter what your sales are if your customers haven’t paid you. As a business owner, you [...]