Lesson 9 - Income Tax Practical Examples Part 5
Anita Sajkiewicz FCCA
I'm a mentor for burnt-out accountants who want to start an online business and work from anywhere, so they can improve their well-being and reclaim their freedom.
In this Lesson 9 Part 5 we are continuing to go through the income tax return for the below scenario:
We are going through the final calculation of taxable profits and tax liabilities for the?above scenario, based on all the information that we have entered?so far.?
I am also explaining the calculation of PAYE, PRSI and USC due and I clarify what the final tax liability consists of. Finally I am going through the section?IT Self Assessment, which is pulling all information already entered in your tax return, dividing tax by components and summarizing the final tax to be aid.
So let’s take a look at this practical example…