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Gross Income - Quick question

  • 25-03-2021 10:00am
    #1
    Kaldo
    Registered Users, Registered Users 2 Posts: 222 ✭✭


    Hi all,

    Gross income for a self-employed is equal to the business turnover minus all business expenses (eg. rent, bills, material etc). This gross income is taxable if it's over 5000 € a year for PRSI, and 12000 € a year for USC. What's left is the Net Income.

    Is this correct?
    Tagged:


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