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Help with income tax calc...

  • 17-10-2013 9:24am
    #1
    Zulu
    Registered Users, Registered Users 2 Posts: 10,967 ✭✭✭✭


    Is the KPMG tax calc accutate? (This one)

    And if so, am I using it right?!? Should I declare the gross rental income I receive from my property in the "Self Employed/Other Income" field?

    I'm trying to work out how much I'd earn if I changed to a perm role from a self employed role, and I'm surprised by the results to be honest.


Comments

  • #2
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    Self employed people pay more tax when the same earnings are considered. But self employed people can also claim a lot of expenses. How much you can claim depends entirely on your circumstances and the nature of the work done. In some situations being self-employed might come out "ahead", in other situations they might be worse off.

    The various online tax calculators are very simplistic and only deal with personal income. For selfemployed people personal income is entwined with business income so there is a lot more to think about.


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