Tax-saving for the Self-employed

If you are self-employed you must calculate your tax liability and make a payment by 31st October 2014 (12th November if registered with ROS) in respect of your:
 
1. Final Tax Assessment for 2014;                                                    2. Preliminary Tax for 2015.
 
The good news…

You can reduce your 2014 Final Tax liability and your 2015 Preliminary Tax liability by making contributions to a Personal Pension plan or to a PRSA plan by 31st October 2015 (or 12th November 2015 for ROS users) and electing to backdate the tax relief to 2014.

Example:

 John is self-employed, aged 45 years, and his Net Relevant Earnings for 2014 were

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Who needs life insurance?

We don't need as much life insurance as life insurers would like to sell us! You don't want to buy insurance you don't need. Here's how to figure out whether you need it and how much you need.

To avoid buying life insurance you don't need, ask yourself a simple question:

If I die, will my family or loved ones miss my income or financial support?

That's the key question for most of us. If you can't think of anyone that you care about who depends on you financially or for other support (e.g. in the home), life insurance isn't for you.

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classic mortgage mistakes

There are countless articles about getting the best mortgage deal, explaining how to do it right, from finding a product that meets your needs to bagging the cheapest rate.

But, in reality, there are probably half a dozen or more ‘right’ mortgages for most borrowers – all of which would be suitable, competitive and meet their needs. Even in this restricted, post-credit crunch mortgage market, there are still many homeloans out there to choose from.

What’s just as important as finding a deal that suits you is avoiding making an absolute clanger. It’s a case of borrower beware when it comes to taking out a mortgage, because getting it wrong can cost you thousands.

Below are five major mistakes that could lead you to the wrong mortgage:

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First Time Buyers

First Time Buyer Mortgages Ready to buy your first home? Knowing how to secure loan approval is really important as is getting the best deal. At Southeast Financial Services, you get expert advice from qualified staff. We will advise you on the best options to suit your needs and we will work with you through the entire mortgage process.  Buying your first home is one of the most important financial decisions you’ll ever make. We […]

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Do I need cover?

What is Life Insurance? Life insurance is a simple product designed to provide a lump sum or Monthly income payment on death. It is designed to provide your dependents with financial security on your death and ensure that they are not left with a shortfall in income. It can also be used to protect mortgage and loans to ensure they are not passed on to your estate. Ask yourself: When did you last review your […]

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Accident & Sickness Cover

Accident and Sickness Cover   What would happen to you and your family if you fell ill or had to take time off work? Where would the money come from? Who would pay for the mortgage and everyday household bills? You can forget holidays, treats for the children and any new things around the house.   IMPORTANT STATISTICS Over 100,000 people are claiming Disability Benefits or Allowance Heart disease is Ireland’s No 1 Killer – […]

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Permanent Health Insurance

Permanent Health Insurance An Income Protection policy is a simple, tax efficient & inexpensive plan that provides you with a source of income if you are unfortunate enough to be out of work and suffer a loss of earnings as a result of a illness, disability, an injury or an accident If you were unable to carry out your normal occupation for a prolonged period due to an illness or injury, could you continue to […]

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Annunities

An annuity is a contract with a life insurance company that will pay you a guaranteed, regular pension income for life in return for a capital sum. The capital sum comes from your retirement fund. You will pay income tax and Universal Social Charge (USC) on the income that you receive. The amount of regular pension income you get depends on a number of things such as: the amount of money from your retirement fund that you […]

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Financial Advice

Financial Advice Southeast Financial Services is a Financial Broker. We believe that in order to assess your needs sufficiently it is essential we have all the facts first. To facilitate this we will meet you at a time and a place that suits you. We offer a free financial review where we look at your current financial situation to see where we can assist you. This review will follow the following agenda: 1.     Determine your current […]

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