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- Oct 11, 2013
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Hey Guys,
Avoided smack talk for this one.. Sorry @KURT_COCAIN
So, my wife has started online teaching to foreigners wishing to learn English. She resigned from her job last month and started her first lesson mid last week. The income potential looks very promising, and she is currently up to 3.5 hours lessons booked per day. They pay in US Dollar every 2 weeks.
Regarding the tax.. She will not be taxed before they pay her. How much does any tax guru here advise that she must set aside as to be ready for SARS when they knock? And I am sure they will. Would it be advisable for her to try get a CC? I have one from many years ago that I might be able to pull out deregistration process and give to her. I am going to be asking my accountant as well but no harm in asking here as well.
Also, what recommendations would people advise to perhaps assist with tax? Like for arguments sake she is currently using my PC to do her work. If we wish to add a 2nd pc in the house, would it be advisable for her to buy it herself and can any of this be claimed back? This will only be way down the line since we wish to try save a bit first. Just some advice regarding her spending habits and where it would benefit us come tax return time.
Anyone else have a Mrs./spouse/friend/Mistress doing this? Any advice will be appreciated.
Thanks.
Avoided smack talk for this one.. Sorry @KURT_COCAIN
So, my wife has started online teaching to foreigners wishing to learn English. She resigned from her job last month and started her first lesson mid last week. The income potential looks very promising, and she is currently up to 3.5 hours lessons booked per day. They pay in US Dollar every 2 weeks.
Regarding the tax.. She will not be taxed before they pay her. How much does any tax guru here advise that she must set aside as to be ready for SARS when they knock? And I am sure they will. Would it be advisable for her to try get a CC? I have one from many years ago that I might be able to pull out deregistration process and give to her. I am going to be asking my accountant as well but no harm in asking here as well.
Also, what recommendations would people advise to perhaps assist with tax? Like for arguments sake she is currently using my PC to do her work. If we wish to add a 2nd pc in the house, would it be advisable for her to buy it herself and can any of this be claimed back? This will only be way down the line since we wish to try save a bit first. Just some advice regarding her spending habits and where it would benefit us come tax return time.
Anyone else have a Mrs./spouse/friend/Mistress doing this? Any advice will be appreciated.
Thanks.