Your Tax Return Expert
An income covenant is basically a legal promise to pay another person a set amount per year If, for example, you enter an income covenant to pay €1,000 a year to a person over 65 years old or a person who is incapacitated you can claim €1,000 as a deduction against your total income therefore possible saving €410 euros if paying at the higher rate The
The majority of business’s year end’s fall on the 31st December Therefore, I would advise for purpose of minimising your tax bill for 2014 1) Review any expenses that could be incurred now before year end that you have putting off for example repair jobs etc. 2) Review stock to see if any of the stock could
This credit is commonly claimed for children for whom child benefit is received However, it can also be claimed in situations where you are caring for a > person who is over 65 years old and who is residing with you or lives within 2km’s of your home > or a person who is permanently incapacitated and who is residing
Oliver Niland & Co – Chartered Accountant
Unit 8, Royal Rock Park,
Ballybane Industrial Estate,
Galway.
Telephone: (091) 763817
Mobile: (087) 984 6979
Email: oliver@taxreturnhelp.ie
(Right across from Thomas McDonagh’s hardware store and directly behind the Royal Rock Café )