Sarah has the following items of income:AbroadP 100,00050,000PhilippinesP 200,000100,000400,000300,00030,000000000Business incomeProfessional feesCompensation incomeRent income200,000 000.000,2940,000 000.0oe 49Interest income1. Assuming Sarah is a resident citizen, compute the total income subjectPhilippine income tax.P1,390,000b. P1,180,000c. P1,030,000d. P1,420,000а.Sxel ol 0jdua omorIsto2. Assuming Sarah is a resident alien, compute the total income subject to Philippineincome tax.P1,420,000b. P1,180,000c. P1,030,000d. P390,000a.er-E maldor19sd 2sd3. Assuming Sarah is a resident corporation, compute the total income subject tPhilippine income tax.P1,420,000b. P1,030,000gajon noile inabizec. P1,180,000d. P390,000ho ebs ni bogegns ton neils inabize1-noа.4. Assuming Sarah is a domestic corporation, compute the total income subjectPhilippine income tax.P 390,000b. P1,030,000OS-Ec. P1,180,000 o 2eniqqilid9 ors lol odwnshizar no0sy o ol mositio ans biesha.d. P1,420,000

Residence Status of Philippines tax payment It is difficult in part to make the judgement of the…

Answered: Business income 50,000 100,000 400,000…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 6BCRQ

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1. Sarah has the following items of Income: Philippines Abroad Business Income P200,000 P100,000 Professional Fees 100,000 50,000 Compensation Income 400,000 --- Rent Income 300,000 200,000 Interest Income 30,000 40,000 If Sarah is a resident citizen, how much is the total Income subject to Philippine Tax? 2. For data given on no.1, if Sarah is a resident alien, how much is the total Income subject to Philippine Tax? 3. For data given on no. 1, if Sarah is a resident corporation, how much is the total Income subject to Philippine Tax? 4. For data given on no. 1, if Sarah is a domestic corporation, how much is the total Income subject to Philippine Tax?
If Ana chose to be taxed at an 8 percent rate, how much is her overall income tax? (based on the provided photo) P321,500 P342,500 P351,500 P358,000
John has an income of 160000 , What would be his total tax liability based on the tax structure ? COMBINED INCOME TAX RATE (2019) albertafirst $47,630 25.00%over $47,630 up to $95,259 30.50%over $95,259 up to $131,220 36.00%over $131,220 up to $147,667 38.00%over $147,667 up to $157,464 41.00%over $157,464 up to $209,952 42.00%over $209,952 up to $210,371 43.00%over $210,371 up to $314,928 47.00%over $314,928 48.00% options: a) 67200 b) 50712 c) 47212 d) 57200
Lisa has the following items related to her taxes:Federal tax refund (amount she overpaid) $3000Federal taxes withheld from her paycheck $4000California taxes withheld from her paycheck $3000Property tax paid on her personal residence: $9000What is the amount her itemized deduction for taxes? Select one: a. $13,000 b. $12,0000 c. $10,000 d. $16,0000
Compute the income tax due for 2021 if Yolanda is a resident foreign corporation: P5,750,000 P2,750,000 P8,500,000 P6,800,000
Gabriela has the following income for the quarter: a. Professional income,P80,000 b. Income from her business, P30,000 c. Compensation income,P40,000 d. Interest income from bank deposit, P10,000. What amount ofincome will Gabriela report in her quarterly income tax return? P80,000P110,000P120,000P150,000
G15. Adela and James are married and file tax returns jointly. Last year Adela earned $45,500 and James earned $44,700 in wages.A dditional tax information for the year is as follows: Interest earned: $1,200, State and local income taxes paid: $4,230, mortgage interest: $6,200, contributions to charity: $1,400, contributions to retirement plans: $3,350.F rom this information, calculate their taxable income (in $).
Mr. Holm has Net Income for Tax Purposes of $55,000, all of which is investment income. He is single and provides support for his mother. His mother is a widow who resides in Latvia and has income of $1,100 per year.I need it answered in the boxes please.1Particulars (Mr. Holm)Amount Basic Personal Amount Spouse Amount Mother Amount EI Amount CPP Amount Canada Employment Eligible Dependent Amount Age Amount Pension Amount Canada Caregiver Amount Total credit base 0
X, a resident citizen, is engaged in business. In Taxable Year 2023, X declared the following: Sales, P1,000,000; Cost of sales and expenses, P600,000Lotto winnings, USA, P20,000.Also, X claimed in his income tax return a personal exemption of 50,000, as head of the family. How much is the basic income tax due of X for the Taxable Year 2023?
Sarah has the following items of income: Philippines Abroad Business Income 200,000.00 100,000.00 Professional fee 100,000.00 50,000.00 Compensation Income 400,000.00 Rent Income 300,000.00 200,000.00 Interest Income 30,000.00 40,000.00
This is a taxation question Q4) Betty owns two residential investment properties in Singapore which are rented out. She has the following income for the year 2020:Net rent surplus of $10.000 from Property 1Net rent deficit of $11,500 from Property 2Interest income from loan to her company of $1,500The amount of taxable income derived by Betty for the Year of Assessment 2021 is: Group of answer choices a) $11,500. b) $1,500 c) $0 d) None of the above

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