by Wayne Smith & Associates | Oct 27, 2022 | Business, Tax
“A diligent buyer will want up to five years’ worth of profit and loss statements, bank statements, tax returns, leases, supplier and vendor contracts, and customer data.” (Barbara Findlay Schenck – Author “Selling Your Business for Dummies”) The reasons why a...
by Wayne Smith & Associates | Oct 27, 2022 | Business, Financial
“I would borrow money all day long, if the cost of borrowing is less than the expected return.” (Brad Schneider, American congressman) At some point it’s more likely than not that your small business will require a business loan. A 2021 study done by Fundera (a...
by Wayne Smith & Associates | Oct 27, 2022 | Tax
“[Taxpayers] should give at least the same priority to tax obligations as their other responsibilities.” (SARS’ Short Guide to the Tax Administration Act) SARS has wide powers when it comes to the collection of tax debts and just one of these is the power to collect...
by Wayne Smith & Associates | Oct 27, 2022 | Business
“In a way, fraud in business is no different from infidelity in marriage or plagiarism in scholarly work. Even people committed to high moral standards succumb” (Miroslav Volf, Director of the Yale Center for Faith and Culture) Fraud (in this context) is the act...
by Wayne Smith & Associates | Oct 27, 2022 | Tax
7 November – Monthly PAYE submissions and payments25 November – VAT manual submissions and payments29 November – Excise Duty payments30 November – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments.