Brendmo Chartered Accountants

Setting Up Your Finances in a New Business

“A house built on granite and strong foundations, not even the onslaught of pouring rain, gushing torrents and strong winds will be able to pull down.” (Haile Selassie, Former Emperor of Ethiopia) When starting a new business, few things are as important as establishing your finances and making sure they…
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5 Business Plan Mistakes to Avoid

“Proper business planning demands that you focus on the self-interest of the customer at all times.” – (Brian Tracy, Author and Speaker) Writing a business plan can feel like a daunting process, and making mistakes is part of the package, even if you follow the online guides and templates.  To…
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UDZ Tax Incentive Extended: Could Your Business Benefit?

“…governments internationally have increasingly used tax measures to support efforts aimed at regenerating urban areas.” (SARS Guide to the UDZ Allowance) The urban development zone (UDZ) tax incentive, provided for in section 13quat of the Income Tax Act (the Act), was introduced 20 years ago in 2003, as an accelerated depreciation allowance for property…
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Tips for Generating Customer Trust as a Start Up

“Consumers don’t just buy products and services anymore; they buy experiences. This demands a new approach to marketing, sales, and services; one that hinges on winning customer trust.” (Ben Jackson, Author “The Future of Commerce) With customer trust being the most important element in attracting sales, contracts and clients, gaining…
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How To Prepare a Reliable Disaster Recovery Plan

“The time to prepare for disasters is before they happen” (Stephen Matheson, Vice President of Product at BridgeHead) Given how reliant we all are on our IT infrastructure, it will come as no surprise to learn that one of the worst things that can happen to a business is for…
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Five Essential Bookkeeping Tips for Small Businesses

“Making good judgements when one has complete data, facts, and knowledge is not leadership – it’s bookkeeping” (Dee Hock, Founder and CEO of VISA) When running a small business, it often feels like you are doing everything yourself, and some important tasks can slip under the radar. One aspect that…
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Maximise Your Business Travel Tax Deduction

“Without a logbook, you will not be able to claim a travel deduction.” (SARS Travel Logbook 2022/23) Even while recovering from the economic impact of COVID and facing the challenges of power blackouts, businesses and their employees are also contending with the costs of travel that have reached historic highs.…
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How the New Assessed Loss Tax Limitation Works

“People who complain about taxes can be divided into two classes: men and women.” (Unknown) The assessed loss rules have always allowed companies to deduct from their taxable income each year any assessed losses from previous years. The remaining assessed loss balances could be carried forward indefinitely. This meant that…
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