Get organized and financially savvy for the new financial year!
With the start of a new financial year, it’s the perfect time to prepare for new business prospects and opportunities.
Here are a few recommendations for taking a few steps to get your business ready for the year ahead.
- Review your finances: Take a look at your income and expenses from the previous year to get an understanding of your financial situation. This will help you plan for the upcoming year and identify areas where you can save money.
- Set financial goals: Determine what you want to achieve financially in the coming year.
- Create a budget: Based on your business’s financial goals, create a budget for the coming year. This will help you track your income and expenses and ensure you’re staying on track with your financial goals.
- Review your tax obligations: Check with your trusted advisor CRS Group to ensure you understand any changes in tax laws and regulations that may affect your business or personal taxes.
- Review your insurance coverage: Review your insurance policies, to make sure you have adequate coverage for your business needs.
- Review your investments: Review your investment portfolio to ensure it aligns with your financial goals and risk tolerance.
- Plan for emergencies: Make sure you have an emergency fund in place to cover unexpected expenses.
By taking these steps, you can help ensure you’re financially prepared for the new year and set your business up for success.
View the TAX GUIDE from SARS.
