Income Tax Calculator for Married Couple

_Brian

Folks.. Throught this was best place to ask for help... I'm looking for an online or downloadable tax calculator that has option to enter details for both spouses and generate the nett income as a family.. All i can find online are individual calculators

namenotavailablE

My Excel spreadsheet allows you to enter each person's gross pay (and non-standard deductions, if any) and will show take home pay:

http://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm

It only works in Windows and requires that you allow macros to run in Excel.

_Brian

https://www.boards.ie/discussion/comment/120085973#Comment_120085973

Thanks..

Are you the owner ?

namenotavailablE

Yes, I'm the owner as in I wrote that spreadsheet.

limos

Hi I too am trying to work out our tax as a couple my wife has recently qualified for carers allowance for our daughter and my father. She will receive 18k yearly but this has decimated my standard cut off point from 49k as a married couple jointly assesed to 31k. I want to get any advice should we drop the home carers credit and go with the increased cut off rate, I just cant find anything to work it out

Deise Vu

Have I got this right? You want to turn down €18k from the Govt in order to save a payment of 40% of €18K to the Govt?

relax carry on

https://www.boards.ie/discussion/comment/120095975#Comment_120095975

With the home carers you are getting a credit of 1700 euro but losing out on a rate band saving of 3600 euro ( 18000 by 20%). Looks like the rate band would be better.

_Brian

https://www.boards.ie/discussion/comment/120086751#Comment_120086751

Nice job..

Small feedback..

I did notice a small discrepancy when i entered the details from an example from the revenue site itself, not sure how that is.. from this page here (https://www.revenue.ie/en/life-events-and-personal-circumstances/marital-status/marriage-and-civil-partnerships/joint-assessment.aspx)

I couldnt see an option to say someone had retired early and not working, nor an option to show someone was drawing a private pension, aged under 65 and still working, but maybe thats my error using the sheet..

namenotavailablE

https://www.boards.ie/discussion/comment/120098606#Comment_120098606

Thanks for the alert- I'll have a look at this in due course.

My preliminary thoughts re the discrepancy is that the spreadsheet assumes that both earners are employees so get employment related credits. The example had one spouse earning investment income which would mean no Employee credit. Also, the spreadsheet assumes an initial even split of credits and cut-off points- I think I might look at improving this to allow for the option to reallocate unused cut-off point where applicable. This applied in the example on revenue.ie. At the moment, a 'Tax tip' pops up and momentarily flashes to alert you to a possible cash saving from reallocating cut-off between spouses but you have to do this manually.

Re early retirement- no, that isn't catered for at present. I've looked at the idea of a person having 2 jobs but it proved to require a fair amount of reworking. 'Life intervened'!

limos

I was just asking for some advice because when it comes to taxes I havent a clue just noticed my rate band went from 49000 at 20% to 31000 at 20% so to do overtime would not be worth much? am I right?

limos

Thanks for the reply I asked the revenue what would be best for me so know my tax credit has gone way down, I have attached a pic so now I am totally confused. It seems the more I contact them the more tax credits I keep loosing

4053546E-595B-41F8-9340-F5E8BD96389C.png

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