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One of the most pivotal decisions you will make when starting your enterprise is choosing your business structure. The entity you choose impacts taxes, liability, your control, and how to pay yourself from your business.
You can structure your business as a sole trader, partnership, limited company etc.
Some business structures are more complicated to manage than others. You may have significant filing and reporting requirements, depending on how you structure your company.
Unless your business is a separate legal entity or operates under a “doing business as” name, you don’t have to open a separate business bank account. But, separating your personal and business funds is a wise decision.
To manage your books, you need to decide on an accounting system. You can use either cash-basis or accrual accounting.
Cash-basis accounting is a simple way to manage your books.
With accrual accounting, you must record money whenever a transaction takes place, even if you don’t physically give or receive money.
You can file your business tax return every year without missing the deadline with the help of our experts.
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PAYE Modernisation is the modification of the current Pay As You Earn (PAYE) system. It simply means every time a business runs a payroll, they will be required to submit their pay, tax and other deductions, as well as details of employees starting and leaving the business to Revenue.PAYE Modernisation will allow for real time […]
This is responsible; this is sensible; this is consistent with maintaining stability in the public finances” said Paschal Donohoe, Minister for Finance and Public Expenditure and Reform, while releasing the – responsible 2019 Budget for a modern and caring Ireland – with additional funding for health and housing. What does it mean for you and […]
Minister for Finance Paschal Donohoe announced Ireland’s Budget for 2021 with some major decisions to be made. With both Brexit and the Covid-19 situation hanging over Ireland it is an extremely difficult time to plan. But plan the Minister for Finance must, and we as a nation find out what exactly this plan contains. And […]