Welcome to “Income Tax Returns 101 – The Tax Blitz Series” from Clever Burdy
Death and Taxes; neither can be evaded but Clever Burdy can teach you how to avoid the latter.
You may be a start-up, a contractor, freelancer or considering becoming self-employed and the one thing you all have in common is you are on your own now and must submit tax returns annually by law. If you have a fear of the tax man or have ever asked the question “How do I file an Income Tax Return (Form 11)?”, then this the course for you.
Navigate your tax and filing obligations with absolute ease from this point on. Even if you have an accountant or tax agent handling your income tax return, the benefits of understanding business taxes cannot be underestimated and this course will guide you on how manage your business money in the most tax efficient way. The age old saying “forearmed is forewarned” must surely have been penned by someone burned by a huge tax bill that could have been avoided by knowing what we will teach you in this course.
Areas covered in the course:
- Registering for Income Tax using ROS
- Registering a business name
- What other taxes can you register?
- Record keeping
- Allowable expenses – the logic behind it
- Disallowable expenses – the rules per Revenue
- How to calculate taxable profit
- Losses – how to use them
- Filing your tax return (Form 11) – worked example and we walk you through the process
- Determining your liability
- Preliminary tax
- The side-hustle and how it can reduce your filing obligations
- Capital allowances – what are these and how do they differ to other expenses
- Surcharges for late filing
Frequently Asked Questions (FAQS)
Why should you do this course?
If you have a wobble when you think of tax, the Revenue Commissioners, that envelope with the harp then this is your one stop shop to dissolve all those worries.
There is no denying that being self-employed is rewarding but one thing all self-employed people want to know is how to maximise profits, reduce tax liabilities and perhaps even file your own Income Tax Return. For some, the services of an accountant or tax agent is just not feasible so once you have completed this condensed and jam-packed online course you will be ready to tackle your taxes each and every year! Even if you have an accountant, the information in this blitz session will help you make smart choices every day. We have hand picked the most valuable topics essential for anyone with filing obligations.
Who is this course for?
This bespoke course is for savvy business owners, contractors, freelancers, bookkeepers or anyone with an interest in starting the journey into the world of self-employment. Ideal for anyone looking for a career shake up as it will give you an edge over your competition! Our courses tick all those tax vocational boxes to help broaden your knowledge of tax which is a must for anyone seeking to join the finance and tax world.
What will you learn?
After completing this course you will gain a thorough understanding of the tax obligations of a landlord. You will learn how to register for self-assessment income tax using Revenue Online Services (ROS), what expenses a landlord can claim as a deduction against tax (and more importantly what they can’t). You will also have an understanding of the implications of capital expenditure versus revenue expenditure, use of losses and how to reflect this on your income tax return. You will feel completely confident and competent in filing your own Form 11 income tax return from this point on.
Are Clever Burdy courses tax deductible for my business?
If your course has been purchased to enhance your tax knowledge and to improve or further your business then you can claim the full cost of purchasing your Clever Burdy course as a tax deductible business expense.
Can you claim any CPD accredited hours?
Yes all our tax courses are CPD accredited. For this course you will earn 2 CPD hours
How long does this online course take to complete?
This course takes approx 90 minutes of online viewing plus 30 mins to complete your self-assessment quiz but as this is a self-paced course, you can take your time and simply re-watch any section you want to cover again.
Can the course I purchased only be viewed once?
Absolutely not. When you purchase an online course via the Clever Burdy online learning portal you will have uninterrupted access to your course for 6 months / 180 days from the date your purchase is made.
Are there any examples included?
Yes! You will be walked through a scenario of how to complete an Income Tax Return Form 11 working off a trading income and expenditure statement with a few real-life scenarios thrown in.
Is follow up included with Clever Burdy courses?
Traditionally we have never had any course attendees contact us after completion of their course as our courses are designed to be a One-Stop-Shop to answer all your burning questions. We do provide a separate advisory service for anybody that would like to have a 1-2-1 talk with us related to their rental business. Details of our advisory and mentoring packages are under the services tab on www.burdy.ie
Tax sometimes changes so will you be kept informed of anything that affects course content?
At Clever Burdy we are super aware that an element of tax could change overnight that may be contradictory to something mentioned in your course. We keep on top of any changes and issue any updates notes to highlight anything you should note in your manual. We try to record our courses once a year to keep your tax learning up to date and most importantly……..correct!