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Showing content with the highest reputation since 08/14/2021 in Posts

  1. Service/Product Description: If you need a Private Investigator then let us help you. We will give you a realistic assessment of your case, the time required to complete it and the costs involved. Understanding your situation is paramount. Location: We operate locally from Cape Town with a national coverage, sometimes worldwide, to get the result you need. Availability: We are available 24 / 7 About us: One of the SA’s longest established and most respected Private Investigator Agencies. Many cases require a level of discretion to resolve a sensitive situation and we understand the need for 100% confidentiality. Our team of Private Investigators have many years of experience, are multi disciplined so often provide a quicker solution to a case. Links (optional): https://icatch.co.za/
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  2. Wow, just had quite a revelation. I have always wondered how to put a price tag on what I do. It’s the eternal struggle of the freelance worker: how do you price your work in a way that’s fair to both you and the client? I asked this question on Mybroadband and the member there pointed out I must read an E-book called Breaking the Time Barrier, well I just finished reading it and my perspective is changed forever. I did the per hour cost plus thing since forever as I was under the impression that is the norm and the only way to do it, well one thing I always battled with was what if I work faster on one client and slower on the other one and lo and behold this book touched on exactly that: What changed my perspective was that the book suggested the following ( This is a quote from MyBroadband ) Value Based Basically - say you're creating a site for someone that sells a R 40 000 product off the site and you're confident that you can get them 5 sales a year due to the website upgrade then they shouldn't have a problem paying you R 120 000 for the site. Their investments is paid off in under a year, pretty good returns! So interesting read and I would say a must for any Freelancer or prospective Freelancer to find out how to price what you do.
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  3. That sounds pretty awesome. I had to dig deep to get all of this information and it took a couple of months of research. I'm 100% sure you will help A LOT of people with this That at the end of the day is the goal. This platform as one purpose and that is to become the educational hub for South Africans interested in finance and the Average Joe, because one way we can make a major difference in the future of this country is by enabling more and more people to get into a position of knowledge where they can take control of their own finances. Like you say this will take some deep digging, I am by no means a financial expert. I am a educator more than anything else so I will have a lot to learn and learn and learn and research, but I am determined to create this guide and with the help of EasyEquities and Magda just a message away I am confident that it would be something worth while to put out there once completed. I will probably bounce a few questions of existing members here on the forum as well as part of the research. For example slightly unrelated but on the Wills thread that Mr Yellen pointed out one thing started to stand out to me and that is the POLL, that poll its a small demographic but even in this small community the results is still shocking seeing that the majority does not have a will in place. That is the sort of things I want to address as well with the investing and savings aspect. Especially this thread (What do you use to manage your finances) and this thread (Budgeting) it touches on something that I also quickly realized not many South Africans are on top of their expenditures and just general "Where has my money gone" so something I want to address in this guide is sort of "The Fundamentals of Household finance" practical examples of how to track and save money how to know what money goes where and how to build up an emergency fund. All in all, A lot of work ahead.
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  4. I think the best would be to rush 1 through 3 so you can start with 4 as soon as possible so you can take advantage of the power of compounding. For example, if you invest R1,000 and earn an average 10% return annually, your investment will grow to R1,100 after the first year. After the second year, you won’t just earn another R100 but R110, for a total of R1,210. And the third year you will earn R121 for a total value of R1,331. On a small scale, this doesn’t seem like much, but assume you invest R1,000 per year for 30 years and average a conservative 8% return. Instead of having R30,000 in a checking account, you will have accumulated more than R132,000. Compounding returns are critical to investors because they allow you to turn small principal contributions over a long period of time into large nest eggs. Keep in mind that Albert Einstein called compounding interest “the most powerful force in the universe.” So in essence how to start investing rush till 4. Maybe we should have some beginner course on how to invest similar to what we have going here: https://www.platinumwealth.co.za/forum/Thread-Part-1-Wills-and-Testaments-101-Gather-information with the guide on how to create a will by creating a scenario for a dummy user. With the likes of easyquities making it available to start out really small it would be ideal to create a tutorial for new comers perhaps bundle it up for a more diversified offering by including an Unit Trust from the likes of Sygnia, after reading what @Magda Wierzycka had to say I realized it’s time to move my unit trust across from my existing broker. @Platinum Wealth perhaps you can contact easyequities and ask them to allocate a dummy account for you or a member willing to do this then you take screenshots and guide the user step by step through the process. Seems Sygnia is willing to engage on the forum so same to them ask them if they are willing to help mainly by demonstrating what the process would be to open an account and what sort of account access you will get and how the “dashboard” looks like and create some form of balanced scenario for the average joe who does not earn top 1% figures. I see 22seven being mentioned here on the forum perhaps that should be included if Sygnia can be synced up with 22Seven like easyequities can. Perhaps the beginners guide should be focused around a core etf portfolio since the etf in itself would be more diversified and less prone to fluctuations compared to a single stocks portfolio the idea here being to get average joe in the right mindset since a lot about investing is a mindset as well and he has to be trained shown what swings can happen.
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  5. This guide is intended for small business owners who wish to help promote Bitcoin by accepting it as payment for goods and services. I am going to type/write this with the assumption that you have a small business selling goods and services and simply wish to accept Bitcoin as another legal way to pay, and that you intend to pay taxes on your Bitcoin income just like any other income be that cash, eft or card payments. With Bitcoin being touted as a way to conduct anonymous transactions and as way to compete with government currency, many small business owners wonder what's the right way to accept and account Bitcoin, or if it's legal or ethical, or whether and how they should pay taxes on income received through Bitcoin. As far as I know, Bitcoin isn't yet formally recognized by governments and authorities as a "currency" (http://www.treasury.gov.za/comm_media/press/2014/2014091801%20-%20User%20Alert%20Virtual%20currencies.pdf). But in practice, Bitcoin is likely no different than accepting payment in other forms, such as cash, or gold, or gift cards or foreign currencies. Starting to accept Bitcoin for transactions If you expect that the number of people interested in using Bitcoin is small, you might simply start by posting a sign or a note: "We Accept Bitcoin", and ask people to contact you directly in order to make a payment. Even if hardly anybody uses Bitcoin as a payment method, you're helping Bitcoin in two ways: one, by increasing awareness, and two, by making your customers more willing to accept Bitcoin as payment from others in the future, because now they know somewhere they can spend it. Utilize a merchant solution If you sell things on your website (goods or services), you'll want to use a Bitcoin merchant solution to accept the Bitcoins, I would suggest payfast if your margins allow it due to payfast being completely automated and tailored for South Africa. If you are or have a developer that runs your website, it would be most ideal to use the API from blockchain.info (https://github.com/blockchain/api-v1-client-php/blob/master/docs/wallet.md) that way you do not have to pay additional transaction fees that traditional merchant solutions have. If you operate a traditional brick and mortar shop your clients can pay either via QR codes directly into your companies wallet or you can register for a Bitx.co account and have a tablet or smartphone at the business linked to the bitx.co app and accept payments on the fly whilst having a detailed audit trail of each and every transaction. Although I personally suggest using bitX.co it should be noted that I had tremendous success using https://airbitz.co/bitcoin-wallet/ as a Bitcoin Point-Of-sale application in some of our brick and mortar shops. You will still need a Bitx.co account since that acts as an exchange that enables you to convert your bitcoins into ZAR and then you can declare that money to Sars. Accounting When a customer makes a payment, you might simply issue a credit to their account. Ideally, you want to enter it in a way that suggests you received a payment. You could consider entering it as a "discount", but you may want to consider whether this inappropriately disguises the nature of the transaction. If on the other hand, you're giving "discounts" for Bitcoins, but then you are selling the Bitcoins for currency and then counting that as income, then chances are good that your calculation of income is making up for it. Ask your accountant. Businesses that offer gift cards If your business sells gift cards or gift certificates, you may find that the easiest way to accept Bitcoin is to accept it only for the purchase of gift cards, and then require the gift cards to be used for actual purchases of goods or services. This way, the accounting practices you already have in place for processing gift cards can be put to use. The accounting for Bitcoins would then be minimized to tracking sales of a single SKU. This method is also ideal for retail food establishments and convenience stores, where the payment of Bitcoins through a mobile phone for a small daily food purchase might be cumbersome or disruptive, especially in front of a line of other customers. Bitcoins in this case would be best used to reload prepaid cards that can then be swiped at point-of-sale. If you don't accept gift cards, but you already accept credit cards through a swipe terminal, consider the possibility that you could add a retail gift card system through the swipe terminal you already own. Setting Prices Some shops set prices based on the current market rate (bitx.co has South African rates) at the time the price quote is presented to the customer. Personally I would suggest to use some form of moving average that way your price does not fluctuate too much considering Bitcoin is quite a volatile currency at the moment. Paying taxes on Bitcoin income Tax compliance is a topic of concern for small businesses. I am not an accountant nor a lawyer, and can't give legal or accounting advice. But in many respects, Bitcoin transactions work very much like cash. Just like Bitcoin, cash is anonymous and doesn't leave a paper trail, yet is widely used in commerce every day. Ask yourself how you would handle a cash transaction. Do you accept cash transactions? Do you normally pay taxes on cash transactions? The answer for Bitcoin should probably be the same. If you opt in to use bitx.co then the accounting would be easier in my opinion since you can convert the bitcoins into ZAR in your bank account and that can then be declared with your income, if you instead opted in to use an anonymous wallet and never convert your bitcoins into ZAR again then the onus is on you to declare your bitcoin holdings just like you do with cash.
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