Sole trader with employees

M

masterK

Registered User
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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.
 
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?
 
masterK said:
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?
Click to expand...

Exactly, though the deduction would be more than 30k as you'd also have the cost of employer's PRSI.
 
have 1 employee with a salary of 30k, do I just deduct the 30k from my taxable income?
Click to expand...

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