Cryptocurrency tax principles for South Africans

Cryptocurrency tax principles for South Africans SARS applies the normal income tax rules when it comes to Cryptocurrencies, in fact, the term Cryptocurrency is not even defined in the Income Tax Act. So, if you have bought and sold Cryptocurrency in the recent past what does that mean for you as far as your tax is concerned? Here is a short summary: The tax treatment of crypto assets would essentially…  Read more

A Beginner’s Guide to Cash Flow Forecasting

Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business within a certain period and gives you a clearer picture of your business’ financial health…  Read more

How Much Cash Does My Business Need?

Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is…  Read more

If my business is making a profit, where is the cash?

Some small business owners find themselves in the difficult position of running a business that appears to be profitable but still has no money in the bank. It’s an important situation to address. After all, a lack of adequate cash flow is one of the main causes of small business failure. Here are three reasons profitable businesses have little money in the bank, and what business owners can do to…  Read more

Cash Flow Advice for Small Businesses

Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management is a major concern for them. Cash flow refers to the movement of money into…  Read more

Cash is king

As I explained in my last blogpost CFO 3.0 ( https://www.118accounting.co.za/cfo-3-0-the-118-vision-for-small-business-owners/) is the evolution of finance and accounting function where 1.0 is being able to explain what happened, 2.0 explains why it happened, and 3.0 will predict what will happen, and how to make it happen. There is no better illustration of how your finance function can apply this concept than on your bank account. We all know that cash…  Read more

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