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The Profit First Business Model: Could it Work for You?

The Profit First business model flips a century-old accounting formula on its head. Instead of Sales minus Expenses equals Profit, small business owners take their profit first and let expenses shrink to fit what remains. Created by entrepreneur Mike Michalowicz, the system uses multiple bank accounts and fixed percentages to…
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Trust Tax Season 2026 Is Now Open

SARS has confirmed that tax filing season for Trusts opened on 19 September 2026, with the closing date set for 22 January 2027. This year brings important enhancements to the ITR12T trust return which takes place against the backdrop of SARS's administrative non-compliance penalty framework for trusts, which came into…
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SARS Scams and eFiling Profile Hijacking: Taxpayers Beware

We are receiving more and more complaints, often from highly-distressed taxpayers, who are forwarding emails, SMSs and WhatsApp messages that appear to be from SARS, but are in fact scams. Increasingly convincing, these messages are causing unnecessary distress and raising the risk of being scammed. Here’s a timely Cybersecurity Awareness…
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Can Business Entertainment Expenses Be Claimed Against Tax?

SARS has strict rules regarding entertainment expenses for both income tax deductions and VAT, and a claim for entertainment expenses will likely be flagged for investigation by SARS. This is why it’s crucial to have a solid understanding of what can and can't be claimed. We encourage you to rely…
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National Wills Month: Do You Have a Business Will?

Most business owners think their personal will has the business covered too, but that's usually not the case. The term “business will” refers colloquially to a specialised directive, such as a shareholder’s agreement, a buy-and-sell agreement or a succession plan, that gives guidance on what should happen to your business…
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