Done a bit of financial restructuring recently after taking the helpful advice of fellow AAM contributors over the last while and want to get a ball park figure of how much tax , PRSI and USC we should expect to pay in 2023:
ARF ( myself): €55000
Income ( self employment), partnership with spouse ( me) : €12,500
Income ( self employment), partnership with spouse ( spouse ) :€50,000
Total joint gross Income. €117,500
( I have engaged with Revenue on this Partnership agreement and it has been agreed in principal i.e a 20:80 split
All my figures are best estimate gross figures
I think we can claim €7100 in tax credits and set our cut off point at €80,000 but I would appreciate if you guys could confirm this and maybe confirm my calculations.
Any thoughts on this would be much appreciated. Thanks so much
ARF ( myself): €55000
Income ( self employment), partnership with spouse ( me) : €12,500
Income ( self employment), partnership with spouse ( spouse ) :€50,000
Total joint gross Income. €117,500
( I have engaged with Revenue on this Partnership agreement and it has been agreed in principal i.e a 20:80 split
All my figures are best estimate gross figures
I think we can claim €7100 in tax credits and set our cut off point at €80,000 but I would appreciate if you guys could confirm this and maybe confirm my calculations.
Any thoughts on this would be much appreciated. Thanks so much
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