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Tax Allowable Deductions

Tax Allowable Deductions

Are you claiming all of your allowable expenses when doing your taxes? Most people know about the PAYE tax credit and the Earned Income Tax Credit.  They also know about Pension allowances and Medical Expenses. Not as many know about what the Revenue call Flat Rate...

Why are accountants so expensive?

Why are accountants so expensive?

I understand.  You are running a business and it’s hard to make money.  Then your accountant comes along and presents you with a high fee, anything from € 600 to possibly €1,500 or more per day for his or her work.  You struggle to understand why accountants are so...

Understanding Financial Statements

Understanding Financial Statements

Do you understand financial statements and how they relate to each other? Over the years, I have developed and delivered workshops on Finance for non-financial managers.  As part of those, I developed some simple scenarios to explain the key points. This series of...

Understanding Financial Statements

How to calculate your breakeven point

One thing I am often asked about is how to calculate your breakeven point. Video on how to calculate breakeven (6 min) https://youtu.be/ikltE7SeErY Other relevant articles If this topic is relevant for you, you may  also be interested in the following blog posts. The...

Review of Xero – the cloud accounting software

Review of Xero – the cloud accounting software

Review of Xero – the cloud accounting software If you run a business, the likelihood is that you will have heard of Xero, the online accounting system.  It seems to be everywhere these days. That is why I found it important to make a review of Xero. Are you wondering...

AIB Online Banking v BoI Online Banking

AIB Online Banking v BoI Online Banking

AIB Online Banking v BoI Online Banking Do you use internet banking in your business?   Maybe you’re a bit frustrated with the online banking product that you are currently using and you are trying to decide if you should switch.  You might just be frustrated with...

Reducing the cost of preparing your Annual Accounts

Reducing the cost of preparing your Annual Accounts

Reducing the cost of preparing your Annual Accounts Are you conscious of your business costs and do you want to reduce the cost of getting your annual accounts and tax done?  It’s a common issue and one I will address in this article. As you may know, I am a qualified...

8 things you need to know about Value Added Tax (VAT)?

8 things you need to know about Value Added Tax (VAT)?

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The easy steps to changing accountants?

The easy steps to changing accountants?

Are you worried about changing accountants? Are you dissatisfied with your existing accountant but worried about changing accountants? This could be because you are fearful that it would be a lot more hassle than it’s worth? From time to time, I get asked by...

10 elements required in improvement projects

10 elements required in improvement projects

The best approach to implementing improvement projects What’s the best way of implementing improvement projects?  This is one of the most common questions that I come across when working with clients. Let me start by stating that I have over thirty years of experience...

How to choose accounting software

How to choose accounting software

How to choose accounting software Are you looking for new accounting software?  Do you need help in making that decision on how to choose accounting software? You could be a start-up or you could be a mature business that has realised the existing accounting software...

Cost of Part-time or Virtual Financial Controller

Cost of Part-time or Virtual Financial Controller

Cost of a Part-time or Virtual Financial Controller Are you running your own business and struggling with the finances?  You would love to have your own financial controller but you can't afford a full time one. You have heard someone mention part-time financial...

How to Master Product Costing

How to Master Product Costing

Every business needs to have a good understanding of its product costing.  If it doesn’t it could end up quoting or pricing incorrectly.   You could have a situation where losses on one product are wiping out profits on another product. So how do you improve your...

What do I have to do to get a business loan?

What do I have to do to get a business loan?

One of the questions that comes up often is from someone who is having trouble getting a business loan.  They are frustrated and want to know what they need to do to get that loan loan. To answer this to have to first put yourself in the shoes of the bank manager....

Allowable Motor Expense Rates (2017)

Allowable Motor Expense Rates (2017)

Allowable Motor Expense Rates (2017) Revenue amended the rates for claiming motoring expenses with effect from April 1, 2017. Given that most businesses use these rates as the basis for Revenue-approved motor expense claims for businesses, you should be aware of the...

What tax/accounting returns do I need to make for my business?

What tax/accounting returns do I need to make for my business?

Which type of returns should you make? To answer it, the first thing we have to do is to identify the form of your business.  Are you a sole trader, a partnership or a limited company? This table summarises the key reporting areas. Sole Trader Partnership Company...

Is Xero right for your business?

Is Xero right for your business?

What is Xero? Xero is a cloud accounting application that provides similar functionality as most of the standard accounting packages such as Sage 50 or QuickBooks. Being a cloud service, the data resides in the cloud and the application is accessed via a web brower.  ...

Struggling with your work-life balance?

Struggling with your work-life balance?

One of the most common problems for self-employed people is achieving or maintaining a good work/life balance. I recently had a client who was finding that he was overwhelmed by the amount of work that had to be done and was seriously considering pulling back from the...

How to prepare financial projections

How to prepare financial projections

Feedback I get regularly from the clients is that they don’t know where to start with the financial projections. So in this article I want to give you a framework and an overview of how I go about doing projections. My approach is something that has built up over...

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