JLM TAX

13/04/2023

If you're looking for an accounting service that can help you save time and money, our accounting business is the perfect choice. With our affordable rates and personalised service, we're confident that we can provide the support and guidance you need to succeed. So why wait? Contact us today to learn more about our accounting services and start achieving your financial goals!

11/04/2023

JLM Tax Solutions (Pty) Ltd It all adds up At JLM we value establishing and retaining long term business relationships. Our clients enjoy personalised accounting and tax consulting services, according to their needs. We do not offer a “one size fits all” solution but rather approach each engagem...

11/04/2023

Return of Earnings is a crucial aspect of the Workmen's Compensation system in South Africa. Employers must submit accurate reports detailing their employees' earnings to ensure that premiums are calculated correctly, and injured employees receive the benefits they are entitled to. It is important for employers to stay up-to-date with any changes in the Workmen's Compensation system to ensure compliance and avoid penalties.

Don't forget to submit your forms from 1 April and 31 May 2023.
Contact us https://www.jlmaccounting.co.za/ today to help you with your submission.

JLM Tax Solutions (Pty) Ltd It all adds up At JLM we value establishing and retaining long term business relationships. Our clients enjoy personalised accounting and tax consulting services, according to their needs. We do not offer a “one size fits all” solution but rather approach each engagem...

05/04/2023

At JLM Tax Solutions, we help businesses and individuals manage their finances and comply with financial regulations. We analyse financial data, prepare financial statements and reports, provide tax planning and advice and offer guidance on cost-saving measures and financial decision-making.

05/04/2023

EMP501 Annual Reconciliation submission period for 2022/2023 started on 1 April 2023 and the deadline is 31 May 2023.

An employer who files its EMP501 late will be penalised under the provisions of paragraph 14(6) of the Fourth Schedule to the Income Tax Act. The penalty will equal 1% of the year’s PAYE, for each month that the return is late, up to 10% of the year’s PAYE.

Contact us today to avoid late administrative penalties.
https://www.jlmaccounting.co.za/

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30/03/2023

WHY DOES MY BUSINESS NEED A QUALIFIED PROFESSIONAL ACCOUNTANT:

1. Accurate Financial Records: We ensure that businesses maintain accurate and up-to-date financial records. This is important for making informed business decisions, tracking income and expenses, and staying compliant with tax laws.

2. Tax Compliance: Tax laws and regulations are constantly changing, and it can be challenging for businesses to keep up with the latest requirements. We ensure that businesses remain in compliance with tax laws, files accurate and timely tax returns, and takes advantage of available tax deductions and credits.

3. Financial Analysis: We provide valuable insights into a business's financial health by analysing financial data and producing financial reports. This information can help business owners make informed decisions about budgeting, cash flow management, and investment opportunities.

4. Financial Planning: We help businesses create financial plans that aligns with their goals and objectives. This can include forecasting future cash flow, creating a budget, and developing a plan for managing debt.

5. Business Strategy: We provide strategic advice to help businesses grow and succeed. This can include identifying opportunities for expansion, analysing financial risks, and creating plans to manage financial resources effectively.

If you are just beginning your business journey and don’t have any employees, starting out with some reliable accounting software and a solid organisation system will likely be enough to keep you afloat for a while. But once expansion begins to start, don’t delay on finding a good accountant who will keep your best interests in mind.
While opting to hire a small business accountant will cost you money, it can also save you in the long run.

14/03/2023

Useful read to avoid tax planning mistakes.

The South African government introduced tax-free savings back in 2015 to encourage household savings. As the name suggests, all of the proceeds from tax-free savings accounts (TFSAs), including interest, capital gains and dividends are exempt from tax. This makes these types of investments extremely...

13/03/2023

The Tax Administration Act stipulates that SARS can issue administrative penalties for outstanding tax returns. Until recently, SARS could only levy penalties if the taxpayer had two or more outstanding returns between 2007 and 2020. The law has since changed and, from 1 December 2021, SARS can levy...