Should I defer my state pension? In some cases, absolutely not, but in other cases, it makes sense. A client asked me this question recently, and my answer was certain. No way, you need to get your state pension at 66. Another client wanted to delay receiving his. That was more for personal reasons, which
I will look at negligible value losses for CGT. I’ll review a recent case that went to appeal and the meaning of words that can work for or against a taxpayer. Let’s look at Background Case for Pat Case for Revenue Commissioner’s Findings Lessons we learn Background Mary Noonan sold land in 2023. She made
You are leaving employment and setting up a company – wow, your own company. That’s something to be very excited about. You are becoming self-employed. That’s a little scary as it’s a step into the unknown, but it has lots of opportunities too. It’s scary because you now must generate the income to pay yourself.
Word to the wise, T, don’t do your own tax return! Paulie “Walnuts” often used the “word to the wise” phrase when advising his mafia boss, Tony Soprano. It was to protect him so he wouldn’t end up “sleeping with the fishes.” The key message in this blog is that it can be dangerous to
I’m going to look at leaving Ireland and Split Year Treatment. It came up in two calls this week. Juan Denver left Ireland in March 2024 for Valencia. He needed help with his Irish taxes. Let’s look at Background Resident or not Split Year Treatment Other income Zoom AI Summary Background Juan is from Spain.
We will look at a parent moving to a nursing home. I had a meeting with two kind and caring sisters during the week. They are looking after their elderly mam in her home. We’ll go through the following points to get into more detail Background Nursing home cost Tax relief Keep their mam at
Don’t miss out on the Home Carer Credit. Based on what I have seen over the last few weeks, thousands aren’t getting this credit. In 2025, it’s worth €1,950. I have seen three cases recently where people should be getting this, but they aren’t aware of it. Let’s explore a bit more about it to
The bank of mam and dad is free money – money that grows on trees. The never-ending ATM cash extraction, where you don’t even need to use a card. It was amazing to read that one in five Irish households are millionaires. When I looked in the mirror the other morning, I didn’t see a
This week, I’ll look at a Revenue review of your Taxes. What prompted this is a Revenue letter that a former client got to review his taxes for four years, from 2021 to 2024. We did his tax returns for 2021 and 2022. He needed help to get set up right after a divorce in
Tax is one of the main advantages for a non-resident purchasing a buy-to-let over a resident. Taxes are lower for a non-resident, in most cases. A non-resident will pay tax at 20% on the first €44,000 of rental profit. Whereas a resident will pay tax of up to 52%, assuming their lower rate band is
