Doing Business in Sandton, August 2018

Welcome!

Hello!

Welcome to the Megaplex Business Booster Newsletter as advertised in our longstanding Newsletter: "Shopping in Sandton".  This short monthly newsletter will give you quick tips that can make your business more profitable, safer and --possibly-- more fun!

On-Line Business Tip:
"
Google My Business"

 

Last month we suggested that you use your account on Google to claim the listing of your business on Google My Business –simply by searching for it on Google.  But what if your business does not appear in a box on the right after you search for it?  

As in the illustration on the right:
1. Go to www.google.co.za
2. Click the "grid" icon near top right.
3. In the dropdown window, click More.
4. Click "My Business"

Then fill in your business's details.

Online Scams II: "Phishing" Scams 

Bank / PayPal and other "Update your Account" Phishing Scams

Phishing is a high-tech scam that uses spam or pop-up messages to deceive you into disclosing your credit card numbers, bank account information, ID number, passwords, or other sensitive information., Phishing spams are email messages that claim to be from a business or organization that you deal with, such as your bank, an online payment service like PayPal, your Internet service provider (ISP), or even a former government body (now Gupta-owned) like Eskom or SARS. The message usually says that you need to "update" or "validate" your account information, and often threatens the closure of your account if you don't respond.

When clicked, the email link will take you to an official-looking web site, which usually looks identical to the real one (since the fraudster has simply made a copy of the real site), and will request you enter your account number, password, etc. This should obviously not be done as they will then empty accounts of funds or use them to commit other crimes.

You can usually tell if the website is false by looking at the address: https://www.fnb.co.za/ is the genuine FNB site, http://www.fnb.co.ru is a fake Russian one!  The "https:" with a picture of a closed padlock next to it indicates a secure (and probably genuine) site.  If in doubt, never use a link in an email to go to a banking site.

If you see one of these scams, please report it to the Anti-Phishing Working Group at reportphishing@apwg.org and to your financial institution as follows:
FNB: risk.online@fnb.co.za, Nedbank: phishing@nedbank.co.za
Standard Bank: phishing@standardbank.co.za  Capitec: phishing@capitecbank.co.za
Absa: secmon@absa.co.za, PayPal spoof@paypal.com.
(some information from www.spamhaus.org)

Got Children at Home? Like Them to Cost Less?

Small Business guru Peter Carruthers writes:
"Do you have children aged 16 or older at home? Or not yet working?
I've raised five children into adulthood, with two more to go. (Just so we're clear, they're not all the fruit of my loins.)
But raising children is expensive. The list of costs seems endless. Schooling, food, pocket money, clothing, entertainment, phones, computers, travel, sports,…
As the sole breadwinner in my family since 1981 all the money I spent on them came through me. SARS demanded a share of every cent I brought into the household.
Because all the income flowed through me, SARS regarded me as rich. So they charged me a much higher tax rate than they charged somebody needing less money.
How much money do you spend on your kids each year?
I ask this because you pay the tax on the money you spend on your children. Which means that what your youngster gets is much less than what it costs you.
SARS calculates your tax rate at the end of each year. Based on how much money you earned that year. And after it's too late to change the amount you took home.
Let's assume a child costs R5000 each month. That's school fees, transport, food, clothing, entertainment, phone, and so on
To have 5000 left to give you need to earn a lot more. The amount you need to earn each month to support your youngster ranges from R6,097 to R9,090. (Your income tax rate ranges from 18% to 45%.)
That means you must earn between R1,097 to R4,090 extra to give to the govt. Each month. For each child.
There's not much you can do to improve this if you work for somebody else's business.
If you own your own business, no matter what it does, no matter what structure, you can reduce this extra tax bill to zero.
For one child, at the lowest tax bracket, your savings this current year will be (R1,097 x 12 = R13,164). That's a voluntary donation to SARS because you don't know any better. Isn't that worth investigating?
At your highest tax bracket, that's (R4090 x 12 = R49,080).
Per child. Every year.
That R13,164 (lowest tax bracket, remember) is waiting for you. It's not money you must still earn. No extra effort. You're already earning it. But giving it to SARS. Every year.
SARS is the worst possible creditor to have. If you think banks chase hard you haven't experienced the wrath of SARS.
This is just one example of low-hanging fruit we cover in our tax course. There are a bunch more. This course is only for small business owners.
Tax seems complex. But the bits that apply to us are not as scary as you imagine. You'll find the concepts easy to understand. We try to reduce it to words of one syllable. Our tax expert, Peter O'Halloran, has been helping business owners for 20 years..
It's an online course. You start learning right away. You can watch each video until you understand it. Or you can read the notes. Or you can listen to the soundtracks. You can download everything.
You can ask as many questions as you want. You have lifetime access to the course.
Your investment would normally be R1497. And you get every penny back if the course doesn't resonate with you for any reason.
If you invest in this knowledge before midnight Sunday 2 September you will also save R500 on the price of the course.
Your tax savings will be instant because your provisional tax return should be going in soon.
Invest R997 to save at least R13,164 this year. On each child. And then save that every year in future. How worthwhile does that sound?

Click here to save R500 right now and at least R13,164 tax this year. (The R500 discount applies until midnight on Sunday. The tax savings apply forever.)
Remember, SARS won't tell you when you pay them too much. It's up to you to use their rules to pay the lowest tax you can.

If you know anyone with children still at home, please consider sharing this email.
Warm regards
Peter Carruthers
peter@petercarruthers.com"

All the best from Rick at megaplex.co.za,a,

the most helpful website for shops in Sandton.

To view other issues of the newsletter, click these links (same page):
2018: January, February, March, April, May, June, July, August, September, Subscribe here or locate another period.