Business owner and mother? How to balance work and family even better
At Cornerstone Tax an Accounting, we love small business owners and we believe that small businesses are at the core of our country’s growing economy. As business owners, we all know that one of the toughest things to manage is work life balance. And if you throw motherhood into the mix, and it can become a massive challenge.
With more and more powerhouse woman trailblazing across all industries as SME owners, being a mother and being a business owner isn’t something that happens independently anymore. With May marking Mother’s Day, we have put together a few tips to help you be a supermom and a successful business owner without compromising on either.
Outsource your payroll
Every business owner knows the hassle and stress that comes with managing a company’s payroll. The possibility of mistakes, the cost of employing a team of payroll specialist and system – all while ensuring SARS compliance, can be overwhelming. Many business owners will end up asking the age-old question: “How do I ensure that my payroll is done accurately while managing all the countless moving parts of a business?”
The answer is quite simple: outsource your payroll to an external specialist and let them do the hard work for you, thereby saving you time to spend elsewhere. Unfortunately, many company owners are hesitant to outsource their payroll management, mostly due to lack of knowledge around the many benefits it holds – and there are many! If you are still on the fence about outsourcing your payroll services and you need a little convincing, make sure you read 3 reasons why you should’ve outsourced your company payroll already.
Get your bookkeeping done professionally
Bookkeeping is one of the most time-consuming parts of running a business. There is no grey area with bookkeeping, it must be perfect otherwise nasty audits and penalties might occur. Don’t waste valuable family time balancing your books, rather get an expert bookkeeper to do it for you. Not only will it save you time, but it’ll ensure that your business stays compliant and that you have a comprehensive understanding of your company’s cashflows – an absolute necessity for future growth and strategy.
Make sure you stay compliant with SARS by getting a tax professional to do your company taxes
Every company needs to be SARS compliant. Tax accounting and tax law are very specialised fields of expertise and might not be every business owner’s forte. Taking time to learn everything you need to know about tax legislation can take years and even then, the cost of making unnecessary mistakes can be dire.
Instead of all that, get a qualified tax practitioner to make sure all your tax compliance is taken care of. They’ll deal with SARS on your behalf, as well as handle any queries and audits. Needless to say, this will save you a ton of time, ensuring you don’t miss those precious moments with your family.
If you need assistance with any of the services listed above, be sure to get in touch with Cornerstone Tax and Accounting Services today for a personalised business solution offering. Did you find our article helpful? Please let us know of our Facebook page by clicking here. You can also find us in LinkedIn and Twitter. To get more great content like this delivered directly to your inbox, be sure to subscribe to our newsletter.