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Tax planning tips for professionals

Vusi Mabaso ยท Quarry Studio News ยท Johannesburg

Tax planning tips for professionals

Why management accounts matter

Waiting until year-end to see how your business performed leaves you flying blind. Monthly or quarterly management accounts show revenue, costs and profitability while there is still time to act. We prepare clear management accounts from your reconciled books so you can make informed decisions.

Understanding provisional tax for high earners

Professionals and directors are usually provisional taxpayers, making payments in August and February based on estimated income. Under-estimating can trigger penalties, while over-paying ties up cash. We calculate realistic estimates from your actual results so each IRP6 reflects your true position.

Getting your record retention right

SARS expects supporting records to be kept for five years, and longer where an audit or objection is in progress. Well-organised digital records make responding to any SARS query straightforward. We help clients structure their bookkeeping so every document is easy to locate.

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