What is the “Rule of 72”? Rule 72 is an easy way to check how good an proposed investment actually is ? To work out how long an investment will take to double your money, divide 72 by the return on the investment. For example: If an investment generates 8% per year, it will take…
What is a “week one basis” ? “Week one basis” means that an employee cannot carry forward any unused tax credits or tax bands from previous weeks or months. Revenue may issue a tax credit certificate for an employee to a employer on a “week one basis” where a) Employee was previously self-employed b) Employee’s previous earnings…
Motor Expenses incurred as part of employment Any individual who uses his or her private car for business purposes and is not reimbursed by his or her employer can claim car expenses. Expenses must be incurred necessarily in the performance of the duties of the employment. A claim can be made under the following two…
