Looking for help working out tax owed, self employed

moretothegirl

Hi everyone,

Just looking for some guidance here because I'm afraid I might owe some sort of taxes but I don't know how to calculate it.

Basically my job is technically classed as being self employed, although I don't actually own a business etc.

My total earnings this year will be approx €12,000 .

Can someone please advise me on whether this would put me in a tax bracket and if so what do I do to ensure I pay what I owe, or could my earnings be too low for tax?

Also this is from jan 2011-dec2011. Is this the correct period of time, or is it from October 2010? If so my earnings would actually be approx €15,300.

Any info would be great!

:-)

EamonOSullivan

You are exempt from Income Tax for the first Euros8,250 and pay Universal Social Charge @ 2% from Euros10,036 and @ 4% on income above that amount.

You may have some business expenses you can deduct - phone, stationery, laptop, broadband, travel and so forth.

moretothegirl

EamonOSullivan wrote: »

You are exempt from Income Tax for the first Euros8,250 and pay Universal Social Charge @ 2% from Euros10,036 and @ 4% on income above that amount.

You may have some business expenses you can deduct - phone, stationery, laptop, broadband, travel and so forth.

Thanks for the quick reply. I just want to make sure that I get this correct.

Do I count my income from January 2011, or from October 2010 (when I started this job)?

So I am exempt for the first €8,250 and at what rate do I pay tax on the rest of my income?

Thanks

Mr. Incognito

There is a guide to self employment in the stickies.

Kindly check the resources available before posting

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