Tax Services FAQ

All businesses need to pay taxes according to law.

Tax services are usually dived into 2 main types: Tax Preparation & Tax Planning

Tax Preparation is basically filling in all the necessary forms and submitting your financial information in the correct format to prove you are paying the required amount of taxes.

Tax Planning is actively searching for and implementing legal strategies to reduce the amount you need to pay in taxes.

Reduce your tax burden to the absolute minimum possible by implementing legal tax saving strategies.

Ensure you stay compliant and up-to-date with your taxes. Don’t pay any fines for late submissions or penalties for mistakes on your taxes.

You don’t need to deal with SARS directly

You are not stuck with the frustration when SARS makes mistakes or question your tax submissions.

Peace of mind knowing you are out of the SARS spotlight and when anything is questioned, that have a experienced and skilled champion to fight on your behalf – to keep you, your business and your money safe.

Thinking your accountant is saving you money on taxes when they are preparing your tax submissions.

Most accountants only prepare your taxes which means filling in the necessary paperwork to submit your taxes – this is not saving you money on taxes!

Specifically look for tax planning which is a on going process throughout the entire year to implement tax saving strategies for you and your business.

When it comes to submitting your taxes, it has been reduced by the maximum possible.

This is a specialist service which very few accountants can provide and even less can do properly.

Thinking every possible tax strategy have been considered by your accountant.

Very few accountants are tax experts or even aware of specific tax saving strategies you could use.

Most accountants only know how to fill in the forms not how to reduce your tax burden – so they only offer to submit your taxes which is not saving you anything.

It is almost a certainty that if you don’t have a tax expert on your side that there is tax saving strategies you are missing out on.

Thinking you are saving money by hiring a cheap accountant to do your taxes.

Taxes is very serious and if done incorrectly you will be liable to pay penalties and/or fines which can easily be prevented by an expert.

When hiring an cheap inexperienced accountant you might only see how much they charge but not how much you are losing because of them.

For example: one accountant charges R2500 for your taxes and another charges R20 000 – now this seems ridicules why the big difference?

The first accountant only submits your taxes and you pay R100 000 of taxes every year on your profit.

The other implements tax planning and restructures your business for tax saving strategies – nothing else changes and you pay R50 000 taxes every year.

This first accountant costs you R2500 + R100 000 = R102 500
The second accountant costs you R20 000 + R50 000 = R70 000

Which is a massive difference but made worse by die fact that every single year you are not using the second accountant you are losing at least R32 500

Taking the change to not pay your taxes.

SARS is not known to be forgiving and if the government doesn’t get the money, they feel entitled to – they will not hesitate to slap you with massive fines, penalties or even a prison sentence.

It is extremely irresponsible for the future of you, your business and your family not to pay your taxes and stay compliant.

Believing that your business isn’t important enough for SARS to take notice

The sad truth about most government agencies is that they love to target soft targets which means an easy win for them.

Your small business is an easy target in comparison with massive companies with entire legal and accounting departments.

It barely takes any resources to come after you, don’t risk your future rather stay compliant and have peace of mind.

Bragging about the amount you pay in taxes.

Your taxes should be a private matter and its better to keep your affairs out of the spotlight.

You never know when someone is listening who want to inflict pain and suffering to your business. SARS Audits and investigations are better avoided even when everything is perfectly in order.

Drawing the attention of SARS to your business.

SARS demands respect and doesn’t like it when people criticize or make public statements about them.

They have a lot of authority to make your life a living hell if you pick a fight with them.

They basically have unlimited resources to go after you and your business – do not draw attention to your business even if you have nothing to fear.

The cost to fight them are not worth it, they already get your tax money don’t incur extra expenses because you are angry or have a bone to pick.