Tax Calculator: Why Tax Accuracy Is Important for Your Small Business

Let’s face it; you’ve never had any restless nights because you’re too excited about paying your taxes. If you’ve had any restless nights over taxes, it’s usually because the process can be daunting. But, with a good tax calculator, you needn’t have any restless nights at all.

The Thing about Taxes…

Aside from the fact that taxes can be expensive, tax submissions can take a lot of time – time that you could be spending planning new ventures for your business. This can make the idea of putting off your tax quite appealing, but it’s never a good idea.

Neglecting your taxes, or not giving them the right amount of attention, can have dire circumstances for your business. And, when you’ve put so much time and energy into building a thriving business, you definitely don’t want to endanger it by disregarding something that is within your power to control.

With that in mind, here are a few of the benefits of keeping your tax records up-to-date and perfectly accurate.

The Advantages of Tax Accuracy

  1. More Disposable Income

Rebates are always nice surprises, but significantly overpaying your taxes means that you have less capital to work with following your tax submission. By being able to accurately calculate your required tax submissions, you free up more money that you can use to keep your business prospering.

  1. Less Risk of Audits

Tax submissions that are inconsistent or unexpected can cause concern with the revenue service, leading to audits. And, when time is precious, the last thing you want on your plate is an audit. However, by keeping your tax submissions accurate and reliable, you show that your business is on top of its tax compliance and you actively diminish the need for audits.

  1. Assurance That You’re Compliant

In addition to providing SARS with some comfort when it comes to your business’s finances, staying accurate in your tax submissions helps keep your conscience clear. Instead of spending your time wondering if you’ll be getting a call from SARS in the near future, you can focus your energy on taking your business to new heights.

  1. A Better Overview of Your Business

Another benefit of keeping accurate tax records is the fact that these give you a clear picture of your business’s financial situation. This certainly helps you make important and informed decisions with regards to your budget.

Why You Need a Tax Calculator

Calculating your taxes by yourself can prove a frustrating and overwhelming process – unless you have the right tools, that is. And, when it comes to the right tools, you can’t do better than a tax calculator.

Tax calculators take the unknown elements out of the mix. They tell you exactly which information you need to provide, and then make accurate calculations with regards to how much tax you owe.

With the ability to calculate your taxes quickly and accurately and enjoy all of the above benefits as well, an effective tax calculator is exactly what you need to take the stress of the submissions period and do away with those restless nights for good.

Contact QuickBooks today for help on you tax on 010 203 4300 or info@easybiztech.co.za!

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Where a party receives any personal information (“PI”) related to the other party, the party who receives the PI, will comply with and have adequate measures in place to ensure that its employees, agents, subsidiaries and representatives comply with the provisions and obligations contained in the Protection of Personal Information Act, No. 4 of 2013. Any PI pertaining to one party which is required by the other party, will only be used by that other party for the purposes of this contract and will not be further processed or disclosed without the written consent of the latter and the recipient of that PI will take all reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the PI. If and when the contract is terminated, each party will, save to the extent that it is required to do otherwise by any applicable law, erase or cause to be erased, all PI and all copies of any part of the PI relating to the other party”.