Sole trader with employees

[masterK]

Is it possible to be set up as a Sole trader but have employees who they pay PRSI etc. for. I was certain it is not possible but have come across a couple of people lately who claim they are sole traders but employ staff.

 

[Nige]

In a word, yes.

 

[masterK]

So how would taxation payments for employees work. Say I earn 100k and have 1 employee with a salary of 30k, do I just deduct the 30k from my taxable income?

 

[Nige]

So how would taxation payments for employees work. Say I earn 100k and have 1 employee with a salary of 30k, do I just deduct the 30k from my taxable income?

Exactly, though the deduction would be more than 30k as you'd also have the cost of employer's PRSI.

 

[asdfg]

have 1 employee with a salary of 30k, do I just deduct the 30k from my taxable income?

Yes. you also include employers PRSI @ 10.75% assuming Class A1 as a cost.