We recently formed a company for someone. He wanted the name Bidvest S…….. (Pty) Ltd. I can’t say what the S…….. was but it described the kind of business that he was in.

The computer at CIPC would not see a conflict because there are so many Bidvests (52 at the last count) that it would interpre...

I was chatting to a client on Zoom and trying to do some quick arithmetic at the same time. I didn’t do too well!

She had R35m which she wanted to lend to an investment company that would be owned by a new trust.

The question was. How much tax would she pay as a result of s7C of the Income Tax Ac...

Last week I talked about a client who is building his company on bad business instead of good business and I briefly mentioned some performance ratios that he needed to achieve in order to get things on the right path.

So, if I know nothing about his particular industry, how can I tell him what h...

We recently completed a year’s accounts for one of our bookkeeping clients.

This time around, I noticed that his turnover had shot up from R1m to R4m. Seemed like things were going well. Until I looked closer.

• His net profit dropped from R53K to R47K, so he was doing four times the amount of wor...

When you form a trust, you actually become four different people.

• You as a person whose financial affairs are entirely separate from those of the trust.
• You as the founder, the person who forms the trust and who has to agree to any changes to the trust deed.
• You as one of the trustees who will m...

Helen hit a bad pothole and it damaged the wing of her Z4 as well as the aluminium rim.

The insurers arranged the repairs and we took it in to the panel beaters.

I asked them to quote on all other imperfections that they could find so that the exterior of the car would be perfect.

There was a bit...

If you manage your debtors, you are already a long way to a successful business.

Here are a few examples of what people do right and wrong.

• Right. Don’t do a thing until you’ve been paid. That’s the way our practice operates, so we have zero debtors.
• Almost right. Insist on a 50% deposit and the...

I was chatting in one of my Zoom meetings to a guy who had just finally settled his divorce.

He said that when they first agreed to get divorced, it was amicable and there was not problem with the settlement. Then along came the lawyers and suddenly they had a fight on their hands. Two years and ...

I’m what is politely called a senior citizen.

Do I remember my dad?

Why, yes, I know his full name and what he looked like. How he talked and a lot of what he said.

Do I remember my granddad?

Well, yes, sort of. His name was granddad and he had white hair. He liked gardening and he tickled his on...

The trite answer is “Yes”. But ask me the question and I would say “Why are you thinking of that?”

Firstly, is there any benefit to being a founder? The founder has no power once a trust has been formed. The only time their existence is relevant is if the trustees wish to change the trust deed. T...