5 Ways to Avoid Getting Stuck in the Tax Season Swamp

It’s that time of the year again! If you’re not prepared for the '23/’24 SARS storm yet, we’ve got some expert tips to help you and your business get organised and start streamlining future tax-related admin so you can start riding the waves like a pro and never worry about tax season again.?

Cartrack’s 5 top tips for averting tax-related anxiety

We’ve got you covered with expert tips to ensure every tax season going forward is not the reason why you lie awake at night.?

1. Get your documents together

Depending on the type of taxpayer you are, you’ll need to have some important and mandatory documents handy. A great place to find them is on the SARS E-filing site if you’re registered, so if you’re not, we highly recommend that you do it today. Examples of these important docs include:

• A certificate of contribution towards a retirement fund
• An income tax certificate like an IRP5
• A medical aid tax certificate
• Proof of medical expenses not covered by your medical aid.?

1. Don’t shy away from using platforms like SARS E-filing

Using E-filing makes tax season so much easier that we can’t really imagine why someone who has all their documents in place and ready to file will want to visit a SARS branch if there are no other issues. The online system was created by SARS to provide a secure and user-friendly tax return platform that helps you avoid long queues and heaps of paper and allows you to submit your returns outside office hours.?

1. Do you have a lot of confusing paperwork? Consider using a professional

While the SARS e-filing system is created to simplify tax return submissions, it’s never a bad idea to ask for help from a professional tax practitioner, especially if you have multiple income sources, investments, annuities or need to do tax for your business. Instead of risking penalties, let someone help you get it right the first time.?

1. Store all tax-relevant information immediately on a safe digital platform

Don’t procrastinate when it comes to storing slips, documents, and other paperwork you’ll need when filing your tax return. Make sure you keep it all in a safe place, like a secure folder on your PC or laptop or on password-protected cloud storage, and make sure you have a backup just in case. Cartrack’s MiFleet cost management solution allows you to effortlessly store receipts, reports, contracts and more so you know you’ve got everything in one place.?

1. Streamline tax-relevant trip data with Cartrack’s GPS-Powered Logbook

Effortlessly unlock the benefits of Cartrack’s GPS logbook, a feature that allows you to classify trips as business or personal as you move, all on the Cartrack App. You can:?

• View all your trips within a selected timeframe on your mobile app
• Effortlessly keep records and notes of all trip histories
• Select if your trips were for business or private use by the push of a button
• Conveniently export your trip data in your preferred SARS-ready format.

Don’t let tax season get you down. Contact Cartrack today and start optimising not only your tax seasons but also the way you run your business.