Brendmo Chartered Accountants, Author At Brendmo Chartered Accountants

27 Dec 21

Owe SARS a Tax Debt? Here Are Your Options…

Brendmo Chartered Accountants

“Tax debtors are expected to take responsibility for their tax obligations and to organise their affairs in such a way as to be able to discharge those responsibilities when required. They should give at least the same priority to tax obligations as their other responsibilities.” (SARS’ Short Guide to the…

20 Dec 21

Learning The Essential Art of Delegation

Brendmo Chartered Accountants

“The really expert riders of horses let the horse know immediately who is in control, but then guide the horse with loose reins and seldom use the spurs.” (Sandra Day O’Connor, former Supreme Court Justice) For years you have been working in the industry of your choice and now you…

13 Dec 21

Estate Planning: Act Now to Protect Your Family and Business After You Are Gone

Brendmo Chartered Accountants

“The golden rule of all estate planning is: don’t wait.” (Missionwealth.com) Just 20% of South Africans have a valid will (“Last Will and Testament”), resulting in countless heart-breaking stories of grief-stricken surviving spouses and children with no income or access to funds as bank accounts have been closed, floundering in…

06 Dec 21

How to Prepare for and Manage a Business Crisis

Brendmo Chartered Accountants

“When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.” (John F. Kennedy, 35th U.S. President) When people hear the term “crisis management” they immediately picture a PR team in front of the media defending a company from an unpredictable disaster,…

29 Nov 21

Five Financial Reports for Informed Decision-Making

Brendmo Chartered Accountants

“What gets measured, gets managed.” (Peter Drucker) Financial reports, such as a balance sheet, income statement, cash flow statement, debtors reports and actual spend vs budget reports, provide an understanding of where your business stands financially at a certain point in time. They detail the business’s financial performance over a…

22 Nov 21

The Simple Solution to Hassle-Free EMP501 Final Recons

Brendmo Chartered Accountants

“The employer in collaborating with SARS plays a critical coalition towards adherence and compliance of tax principles and laws.” (SARS External Guide – A Guide to The Employer Reconciliation Process) By law, employers must deduct or withhold employees’ tax from remuneration and pay this to SARS monthly on or before…

15 Nov 21

The 7 Signs It’s Time to Move Your Business Out of The Garage

Brendmo Chartered Accountants

“One doesn’t discover new lands without consenting to lose sight, for a very long time, of the shore.” (Andre Gide) All of the largest businesses in the world started small. Apple, Google, and Amazon were all famously founded in garages. Now these giant multi-billion-dollar companies occupy multiple office blocks that…

08 Nov 21

Companies: How Will the Reduced Tax Rate and Assessed Loss Rules Affect You?

Brendmo Chartered Accountants

“What the government gives it must first take away.” (John S. Coleman) It certainly seemed like a win for taxpayers when Finance Minister Enoch Godongwana announced in his February Budget Speech that the corporate income tax (CIT) rate has been reduced from 28% to 27% for companies with a tax…

01 Nov 21

What The New Employment Tax Incentive Limits Mean for Your Business

Brendmo Chartered Accountants

“Since the unemployment rate in the Republic is of concern to Government; and since Government recognises the need to share the costs of expanding job opportunities with the private sector…” (Preamble to the Employment Tax Incentive Act 26 of 2013 [ETI Act]) During Finance Minister Enoch Godongwana’s 2022 Budget Speech,…

25 Oct 21

When, Why and Whose Jobs You Should Be Outsourcing

Brendmo Chartered Accountants

“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.” (Lee Kuan Yew, Former Prime Minister of Singapore) Launching a business requires the small business owner to wear many hats. From marketing, to accounting and HR the small business owner needs to learn…