Work for an american company, Irish but living abroad

dvdfan

Im hoping others in this situation might be able to offer some advice for me if their in a similar situation, couldn't really find anything useful via google.

Basically i work for a US company, they pay me a set salary every month. I dont have any deductions, i went to an accountant, they've been great but i get the impression they haven't dealt with anyone in that situation as initially they werent sure what tax bracket i would fall in (i pay 20% and 41% on anything above 32k now) and so there might be some information they haven't found due to them not being familiar with this that which could lessen my tax bill.

After some research my accountant told me i needed to setup a business account and pay my own tax but i don't think i'm a registered business as such. I'm still really an employee.

I was wondering if anyone was in the same situation and if so is there any tax breaks considering i'm not actual a business but i'm paying my own taxes.

Also just out of curiosity, is PRSI compulsory, there billing me about 2500 between prsi and USC charges but from what i read if i end up on the dole ill have a fight on my hands to get anything until im destitute and giving the situation with the economy the money i might get from a pension at the end of it might not be so great considering its being used for the bailout etc

Can i just not pay the PRSI or is there no choice, ive heard people saying there not paying but i dont know if that was just talk and instead use that money towards an investment or pension plan of my own? Finally i see they want me to pay next years taxes in advance, i didn't know this until a few days ago and i have to pay a full years tax bill by Nov already so not a hope of me having an extra years tax for them, my accountant says if i cant pay it dont worry but they may charge me interest. Whats peoples experience with that, do they charge you? I could ask my employer if he would mind paying me a year in advance lol

Also one last thing, looking ahead to next years tax, in 2011 i lived in Ireland until November and im living abroad since, i work from Home so i can work wherever there is internet so i didnt move for work reasons.

Ill be basically be in Asia from Nov 2011 to May 2012 after which ill be home for a few weeks and will probably move somewhere in Europe. Will this affect my tax since im basically a non resident. My accountant said she would talk to me about it when i got home because it was too detailed for email so i was just looking for the basics, what affect might that have, i cant pay tax where i live now as i dont work here, i cant pay it in US cause i dont live or work there so i can only pay it Ireland

srsly78

You are supposed to be paying tax where you are long term resident. If you are bouncing around asia tho god knows where this will be. Get professional advice. Would be nice to think you are in a situation where you can get away with not paying anything but in reality some country is gonna be pretty mad.

Some extra tips:
If you are liable for tax in Ireland you have to pay prsi. Yes class S prsi entitles you to feck all - only means tested dole.
Pensions: tax relief is what makes it so attractive, you must factor this in. If you aren't liable for lots of tax then tax relief is irrelevant.