Taxation is one area where most self-employed business people experience difficulties. It is not that they conduct illegal or unregistered businesses, but the issue arises when they don't manage their business books properly. Unfortunately, most people lack the required information and knowledge to accurately record and calculate the correct amount of tax to be paid to the government. This leads to unnecessary tax bills and fines from the relevant taxation institutions. [Read More]
Should you be registering for GST?
A common question that many accountants have faced since 2000 has been whether or not individuals need to register for GST. Most people have a vague idea of what GST is, but unless you work directly with GST on a regular basis, it can feel like a nebulous construct. Therefore, before we explain whether you need to register for GST, let's quickly go over what GST is, and why it's important to at least have a cursory understanding of it. [Read More]
Reasons Why Small Businesses Should Hire Tax Accountants
Do you own a business that does not have a dedicated accountant? Then you could be making a mistake, and that in turn may hit your bottom line harder that you'd think. A good quality business accountant provides various benefits that can help a business grow. This is especially true for small businesses where the business owner is inexperienced in terms of running a business. To help you see why a business accountant is advantageous read on. [Read More]