# What should my gross income, tax and PRSI deductions be?



## apple (27 Aug 2005)

Hi can anyone tell me how much tax, EE prsi and Er prsi I would have paid if my net salary for 2004 was 4200. my tax credit for the yr was 1200. and my cut off point was 6000.


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## Joe1234 (27 Aug 2005)

*Re: P60*

Assuming that the  4200 was earned roughly evenly throughout the year ie 80 per week then you should be able to earn 115 per week tax free.  Your tax should be nil, prsi ee should also be nil as prsi is paid only on income over 287 (approx - cant remember exact amount).  Gross pay would then be 4200, leaving prsi er for 8.5% of 4200, ie 357.

Hope this helps


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## ClubMan (27 Aug 2005)

*Re: P60*

Do you mean €4,200 net per month above? What was your gross per month or per annum (should be on your _P60_)? It's easier to work out deductions from gross than to try and reverse engineer the gross from the net figure. For what it's worth [broken link removed] generates a 2004 net monthly salary of €4,200 for a gross annual salary of €77,000 assuming the normal common tax credits for a single person and assuming _PRSI _class _A1_.


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## z107 (28 Aug 2005)

> It's easier to work out deductions from gross than to try and reverse engineer the gross from the net figure.



(Unless you click the 'Gross up' check box in Payback  )



> For what it's worth [broken link removed] generates a 2004 net monthly salary of €4,200 for a gross annual salary of €77,000 assuming the normal common tax credits for a single person and assuming _PRSI _class _A1_.



If you are on a different PRSI class, or have different tax/credits & SRCOP (like in this case) try Payback payroll software, it's free for up to 4 employees:

www.payback.ie/downloads/payback.exe

If you post your PRSI class (A or S etc), and whether or not the €4200 was annual or monthly, we can calculate tax and PRSI.

I'm affiliated with Payback.
www.payback.ie


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## ClubMan (28 Aug 2005)

Thanks for that - I didn't know that working backwards was a feature of some payroll software. Useful to know.


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## DirtyH2O (23 Oct 2006)

How can I use Payback or other software to do payroll for myself as director. I was a PAYE employee for the first four weeks of the year, then took a holiday and registered a company effective September 1st.
I can't see how to include my earnings for January in an easy way as it's a different PRSI class and I had a different tax free allowance. It seems I need to split my calculations into seperate periods 1/1 - 31/8 & 1/9 - 31/12 to be able to complete this correctly.
I am pretty sure I am entitled to a refund from Revenue as well as my gross for January was c20K but I had no further earnings until September - do I need to wait until the end of the year to do this? Any advice would be greatly appreciated.


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