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Tax Free Voucher for Employees

December 20, 2017 Tax Advice 0 Comment

Under Revenue’s Small Benefits Exemption Scheme you can give employees a small benefit of up to €500 in value, tax-free, each year. This benefit must not be in cash. If more than one benefit is given in a year, ...

Awareness and practice of the 80/20 rule

The 80/20 rule — the Pareto principal — says that 20 percent of your efforts will generate 80 percent of your income. The same principal applies to all other areas also and studies have shown it almost always happens. For example ...

Watch out Donald there’s a new President in town

Take a minute to listen to this Pep Talk from the effervescent "Kid President" (AKA Robby Novak). He reminds us that we all have work to do, "and we can cry about it or we can dance about it... It is everybody's duty to give the world a reason to ...

Reimbursement of Expenses and Travel and Subsistence to Office Holders and Employees

On May 31st 2017 Revenue has provided an update regarding the rules on the reimbursement of Expenses and Travel and Subsistence to Office Holders and Employees. There has been a lot of uncertainty in this area of the last number of years. Following numerous ...

New Mileage and Subsistence rates from April 1st 2017

Revenue have issued new mileage and subsistence rates effective from April 1st 2017. In light of this we also separately provide an update on Revenues view of the tax treatment of the reimbursement of Expenses and Travel and Subsistence to Employees. Our mileage ...

Build Assets, Not Liabilities.

This simple principle, which is borrowed from a chapter of Robert Kiyosaki’s best-selling book, “Rich Dad, Poor Dad”, at first doesn’t actually sound that informative or effective. But after it is explained, it can transform the way you look at your future, and in turn, how you plan ...

Loving your Enemies. What Does It Mean? Can It Be Done?

The next time you feel a sense of friction between yourself and someone else, take a moment to consider that there are always things you can't see about the other person. Reflect on the fact that their perspectives and personality have been shaped by many forces. Allow yourself to respect ...

Non Principal Private Residence charge (NPPR) Update

Back in a recent post we flagged a recent decision of the High Court on the deductibility against rental profits of the NPPR charge. This has been appealed by Revenue to the Court of Appeal. Until that appeal is decided Revenue are not in a position to amend assessments or ...

Disclosures of Foreign Income and Assets Update

Following our recent newsletter regarding the 30th April 2017 deadline for making a qualifying disclosure in relation to offshore matters this deadline has now being extended to Thursday 4th May at 5:30pm. Please find below further clarification. This arose from queries the Irish tax Institute received from its members about the regime. The ...

View tax planning as an ally – Focus on Your Financial Freedom #7

This week we are discussing step 7 in the journey to financial freedom - Don’t fear having to pay taxes.   Just plan for them. Having to pay taxes means you are running a profitable business so celebrate this fact. However you do need to ensure that you are, where possible, minimising the ...

Little About Us

Joe Cunnane Practice Owner TRA Professional Services       Qualifications:  FCA Chartered Accountant & AITI Chartered Tax Advisor Joe has over 20 years experience working in both private practice and industry ... Read More »