Saturday, November 16, 2013

At what point do I register a small business? -

If I only do freelance work, not on a permanent basis, then surely I don t need to register as a business yet? So when do I need to do it, is it when my income reaches a certain point, is it when I start doing it full time, or maybe when I start employing?I m in South-Africa, if that makes a difference.(Please don t use too big words, I m new to this scene)

Registering a business can help you with tax benefits if available in your country. It also depends on the amount of regular income that your freelance work gives you.If your work is purely online then you don t need to register a business. But once:1. your income crosses the taxable limit, or2. you start getting more clients doing regular billing, or3. you employ new people to help you out, registering a small business will be useful.

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