Generic selectors
Exact matches only
Search in title
Search in content
Search Posts
Search in pages
Search Products
Filter by Categories
B-BBEE
Blog
Company Secretarial
Featured
General Business
General Interest
Investing in Property
Marketing
Personal Growth
Personal Wealth
Tax
Trusts and Estate Planning

We do the books for a lot of small companies and so often the boss expects the company to pay for his Big Mac. Not good.

He is expected to feed himself, so the quick bites are not considered to be in the production of income and are therefore not tax deductible.

From our point of view, we quote to do the company’s books, not the private account of the owner, so, if he (or she, though less commonly) eats almost daily from a filling station, Nando’s, MacDonalds or the like, we have to process the purchase to his loan account and then also process the bank charges relating specifically to the transaction. That’s two postings for every lunch.

When this happens, we double our fees.

What should you do? Get another credit or debit card and use that for private expenses. Use the other one strictly for business. Then we won’t have to charge you to unscramble your egg.

Need help with your Investments?

Contact us today or set up a free meeting with our CEO, Derek Springett, to discuss your options. We have been offering expert financial advice and business services since 1971. You can also visit our online store to see our list of financial services.