Contractors: Four Easy Ways To Save Money And Reduce Your Taxes

Contractors: Four Easy Ways To Save Money And Reduce Your Taxes

Contractors: Four Easy Ways To Save Money And Reduce Your Taxes

Here we give four simple ways to help you with saving money and reducing your taxes

  1. Get Private Healthcare – Whether you use an LTD or an Umbrella, you can pay your healthcare bills through the company and reduce your taxes as a result. A tax saving of up to a 3rd of the cost on the premium applies. Accounting Pro will process this and even provide discounted healthcare options.
  2. Rent out a room – If you rent out a room to a lodger in your family home, you are entitled to “Rent a room tax relief.” That means you can earn a substantial amount of tax-free income every year.
  3. €500 tax free vouchers – You are entitled to a voucher to this amount whether you are using an Umbrella or an LTD. This is a great way to reduce your taxes, and Accounting pro will process this for you.
  4. Gym membership – If you like to work out, you can have your company pay your gym fee. Accounting Pro will help you arrange this payment via your company and you will receive a tax rebate of approximately 50%.

Accounting Pro is Ireland’s premier contractor accounting service.  We are here to help you, the busy contractor and/or company, with all your accounting and payroll needs.  We are on your side, always. To learn more about what we do please review https://www.accounting-pro.ie/  and contact us by email:  info@accounting-pro.ie or phone us 01 6933370. For the UK see Accounting-Pro UK. “Four Easy Ways To Save Money And Reduce Your Taxes” is an article written by Accounting-Pro Ireland for the benefit of everyone. Feel free to share it but please give attribution on a CC BY-SA license.

About Author

Related posts