As businesses grow, accounting becomes more of a priority. At first the spouse could do everything on the laptop from the kitchen table. But then the volume of work becomes too much and some reports are obviously wrong. Not a good idea to make decisions based on dubious information. Many entrepreneurs then bring on a …
Read MoreBe Good To Your Bookkeeping
The costs of bad bookkeeping go far beyond the consequences of not understanding the impact of financial transactions. Maintaining a business record keeping and financial system isn’t something you should do solely as a tax-savings strategy; it can also prevent you from losing your sanity and getting dragged into a potential lawsuit over commingling your …
Read MoreThe Basic Of Forensic Accounting
Bringing down one of the biggest mob bosses in history, or catching thieves clever enough to stealing millions of euros from companies. These tasks no longer require a security services and detectives using brute force, but instead can be completed by a mild-mannered accountant in the rapidly growing field of forensic accounting. Forensic accounting is …
Read MoreResearch & Development Activities in Ireland
In the recent budget Minister Noonan announced the introduction of a new incentive scheme for companies engaged in Research & Development Activities in Ireland. Oddly he decided to call it the “Knowledge Development Box” If you think this applies to your business, read on, if you are interested to see one of the methods large …
Read MoreTax Credits
There is an enormous amount of information on tax credits, so in order to stop this article turning into a novel, I have concentrated on what I believe are the most relevant. I have then listed all the other tax credits at the end of the mail. If you need further details on any of …
Read MoreNew Companies Act
The Companies Act 2014 is the single biggest piece of legislation enacted in the history of the state. The commencement of the Act on the 1st of June brings over 15 years of consultation, preparation and work to a conclusion. This significant change impacts directly on SME companies and their directors. How does the Act …
Read MoreAdditional Income Tax Relief Infromation
This is a follow up articles on Income Tax Tips and Advice. For some specific areas you may be entitled to claim relief. Artists Exemption Income is income from qualifying work(s) determined by the Revenue Commissioners to have artistic/cultural merit and for which the Revenue Commissioners have granted exemption from Income Tax under Section 195 …
Read MoreAccounting for VAT on a Cash Receipts Basis
Accounting for VAT on a Cash Receipts BasisThe annual turnover threshold for the cash receipts basis of accounting for VAT to apply is to be increased from €1.25m to €2m from 1 May 2014.What is the cash receipts basis of accounting for VAT?Normally a business is required to include in …
Read MoreIncome Tax 2015
Income Tax 2015 It’s that time of year again and you need to start thinking about your income tax return.Below I list income types which trigger an Income Tax Return and next week keep an eye out for my email on “Exempt Income & Tax Credits”If you are in receipt of any of the …
Read MoreExempt Childcare Services
Exempt Childcare Services An individual in receipt of income from childcare services which is exempt following an election under Section 216C TCA 1997 is regarded as a chargeable person within the meaning of Section 959A TCA 1997. The individual is a chargeable person for self-assessment and must make an annual return of income using a …
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