No matter what the reason for selling your business, experts agree: it’s best to be prepared well in advance as it can take years to complete a successful sale. These four tips will help you get a head start on making your business attractive to buyers for the day you’re ready to sell. 1. Get a business valuation Even if a business sale isn’t imminent for the next five years,… Read more
If you need a car to operate your business, you may wonder whether it makes more sense to purchase or lease. On the one hand, if your business owns the car you’ll have a long-term asset and may qualify for more tax deductions. On the other hand, buying a car is a huge expense and monthly lease payments tend to be lower than car loan payments; they will also be… Read more
Victoria Richardson is an engineer and a business woman with a little bit of Spiderman thrown in for good measure . As a Chartered Building Surveyor, Victoria’s job involves not only office-based work, report writing and client liaison, but also scaling large buildings in a single bound! Part of her work involves abseiling down the side of all types of buildings to inspect for defects or maintenance requirements. To us,… Read more
New legislation enacted in February substantially simplifies obligations under the provisional tax regime. Most taxpayers pay their provisional tax at three times through the course of their financial year, being the 28th day of the 5th, 9th and 13th months after their balance date. The ‘standard uplift’ method determines a person’s liability based on a prior year’s tax payable (105% for last year, or 110% for previous). The problem is… Read more
While working at home as a freelancer sounds like the ultimate dream for anyone tired of the rat race and daily commute, freelancers still have more than a few financial issues to worry about. Perhaps the most important trait that you should have as a freelancer is the ability to be fully responsible and accountable to yourself, and saving money is something that you should think about on a daily basis! So let’s walk through… Read more
Believe it or not, Christmas is just around the corner already, which will leave many of you thinking about how best to reward staff. It may also have crossed your mind to consider how much of the expenditure that you will make will be tax deductible. Generally, if you provide entertainment for your team, clients or any other business contact, some of your business entertainment expenses are tax deductible. Below… Read more