Making better choices
is not always this easy

 

Tax Planning

Tax planning is a crucial part of anyone’s overall financial plan and involves finding legal and appropriate methods to minimize an individual’s tax burden.

Effective tax planning ensures that every element of a financial plan works together in the most tax efficient way possible.

The reduction of tax liability offers an individual the opportunity to maximise contributions towards future financial goals, including retirement.

Tax planning can be categorised in the following ways:

Specific Tax Planning

Tax planning with a specific objective

Long-Term and/or Short-Term Tax Planning

Tax planning that is executed at the beginning and towards the end of the financial year

Permissive Tax Planning

Tax planning that falls under the framework of the law

Tax Planning Strategies

Tax planning is an ongoing process which incorporates many different strategies, including:

  • Lowering an individual’s tax rate
  • Avoiding common tax planning mistakes
  • Reducing the amount of taxable income
  • Controlling the time when tax must be paid
  • Claiming any available tax credits

Because business owners are paying tax all year long, they should also always be focussing on tax planning.

Through tax planning, small businesses can ensure that more money is made available for investments, growth or expenses.

The same applies to private individuals who would like to maximise their current and future investments.

Olemera – Tax Planning and Financial Advisors in Johannesburg

Comprehensive tax planning falls under the scope of financial services offered by us.

As registered tax practitioners, we assist with the following:

  • Personal income tax returns
  • Provisional tax returns
  • Personal SARS disputes, objections and appeals

Furthermore, through our affiliate network with various registered accountants, we also assist with the following:

  • Company tax returns
  • New company registrations
  • VAT registrations
  • Bookkeeping and accounting services
  • SARS Audits

If you are a private individual or a business owner who is looking to incorporate efficient tax planning strategies into your overall financial plan, please feel free to contact us.

 

The Importance of Emergency Funds in Financial Planning

[Title]

The concept of an emergency fund is rooted in the principle of preparedness. While we can budget and prepare for monthly bills, groceries, and even leisure, there are always events that catch us off-guard. These unexpected events can create significant financial struggle, leading to stress and potential long-term financial setbacks.

Read More ...
Posted by Gary Walker on Wednesday, September 27, 2023 Views: 29


Understanding the Basics of Personal Financial Planning

[Title]

Personal financial planning is a systematic approach to managing one's finances, ensuring that current needs are met while also preparing for future financial goals and uncertainties. At its core, it's about strategizing and making informed decisions to achieve specific financial objectives.

Read More ...
Posted by Gary Walker on Thursday, September 21, 2023 Views: 28


The Strategic Adjustment That Can Amplify Your Business's Worth

[Title]

Crafting a compelling argument for multiple adjustments can significantly elevate your profit and, consequently, your business's valuation in the South African market. This process leans more towards strategic interpretation than rigid metrics. It's crucial to defend each adjustment, emphasizing the potential profitability under an acquirer's stewardship.

Read More ...
Posted by Gary Walker on Wednesday, September 13, 2023 Views: 92