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Home Business Tax

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  • 26-11-2015 1:12pm
    #1
    smileawhile55
    Registered Users Posts: 15 ✭


    Hi,

    I was wondering how much can a person earn from running a business out of their home (e.g. making/selling cakes, makeup services etc..) before being required to pay tax?

    Thanks,
    smileawhile55
    Tagged:


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    #2
    relax carry on
    Registered Users Posts: 4,075 ✭✭✭relax carry on


    smileawhile55 wrote: »
    Hi,

    I was wondering how much can a person earn from running a business out of their home (e.g. making/selling cakes, makeup services etc..) before being required to pay tax?

    Thanks,
    smileawhile55

    It depends completely on the individual and their circumstances. Is there another source of taxable income to consider from a job or DSP payments? Is the person jointly assessed for tax purposes with another? Is the person claiming additional tax reliefs or credits?


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    #3
    Peregrinus
    Registered Users Posts: 26,331 ✭✭✭✭Peregrinus


    There are no special rules for income generated from a home business. You just add your profits from the business to your other income, and it gets taxed at your marginal rate.


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