DO I HAVE TO PAY TAX ON MY AIRBNB INCOME?
Do I have to pay tax on my Airbnb income? With the deadline for filing your tax return fast approaching, you may be wondering if you should file a tax return this October if you’ve let out a property via Airbnb during 2017? The Revenue Commissioners have issued guidance saying that letting out…
REVENUE FORM 12
I have received a Form 12 from the Revenue Commissioners and wonder what I should do next? What is a Form 12? The Form 12 is an annual Income Tax return for people whose primary sources of income are their PAYE income. If you are in receipt of any other income apart from…
REVENUE AUDITS
Why: It is a fundamental principle of self assessment tax systems that Returns filed by compliant taxpayers are accepted as the basis for computing tax liabilities. However, Revenue promotes compliance with the Tax System by vigorous pursuit of those who do not file Returns, by auditing selected Returns. Revenue Audits can be a burden…
ARE YOU THINKING OF STARTING YOUR OWN BUSINESS?
Starting your own business can be one of the most exciting and fulfilling decisions someone can make in their lives. The rewards can be substantial in terms of financial gain and self –esteem. Self – Employment requires Total Commitment, Physical and Mental Strength, Willingness to work long hours and Support from family and…
10 WAYS TO CUT YOUR TAX BILL
Rent A Room Relief: If you rent out a room (or rooms) in your home to private tenants, the rental income you earn will be exempt from tax up to a limit of €10,000 per year. You do not have to register with the Private Residential Tenancies Board (PRTB) as a landlord, provide…
MEDICAL EXPENSES THAT QUALIFY FOR TAX RELIEF
With the cost of living increasing, saving money in relation to our healthcare and medical expenses has become a priority for many people. Any qualifying medical expenses incurred in 2012 (or unclaimed medical expenses incurred in 2011, 2010 and 2009) may reap an unexpected cash windfall. Health Insurance Premiums Tax relief is granted…