We Simplify Tax & Accounting – because Advice First counts
1. Relying on Spreadsheets Instead of Cloud Accounting
The Mistake: Many small businesses use Excel for invoicing, expenses, and even tax returns.
Why It Hurts: Manual errors, version control issues, and no real-time visibility can lead to poor decisions and SARS penalties.
The Fix: Switch to Xero — a cloud-based accounting system that automates reconciliations, stores documents securely, and connects to your bank.
Bonus: Mitax offers FREE Xero setup and training plus free Xero Accounting for 6 months T&C’s apply.
Terms and conditions (Must be a 12 months contract with Mitax, Xero Starter Plan only, Xero Starter must be paid for after month 6 or reduce to a Xero Ledger Plan.
2. Not Keeping Personal and Business Finances Separate
The Mistake: Using one account for personal and business expenses.
Why It Hurts: Creates messy records, inaccurate tax filings, and limits your ability to access funding or sell your business.
The Fix: Open a separate business bank account and track all transactions using proper accounting software.
3. Missing SARS Deadlines
The Mistake: Forgetting to file VAT, PAYE, or Provisional Tax on time.
Why It Hurts: Late submissions lead to auto-penalties, interest, and in some cases, SARS account freezes.
The Fix: Use an accountant to stay ahead of deadlines, or set up reminders and filing schedules.
At Mitax, we manage your compliance calendar — so nothing gets missed.
4. Misunderstanding What Can Be Claimed as a Deduction
The Mistake: Claiming personal expenses (like groceries or holidays) as business costs.
Why It Hurts: Triggers SARS audits and could result in penalties or criminal charges.
The Fix: Keep detailed records and get professional advice on what’s deductible and what’s not.
5. Thinking an Accountant is “Too Expensive”
The Mistake: Assuming you’ll save money by doing it all yourself.
Why It Hurts: You may overpay tax, miss deductions, or waste time better spent on growing your business.
The Fix: Think of your accountant as a strategic partner — not just a bookkeeper. With Mitax, you get advice, automation, and peace of mind.
Need Help? We’re Just a Call Away.
Book a free 15-minute consult to see how we can simplify your accounting and compliance.