How much is his total deductions? *How much is his gross pay? * Employee DetailsEmployee Name: Miguel CabreraEmployee ID: 12345Hire Date: 11 October 2021Bank Account numben 12345678Department SalesTob Title: Sales ManagerPaymentsTaxable IncomeBasic SalaryCommissionOver time payGross Taxable IncomeDeductionsSSS ContributionPag-ibig ContributionPL125100770P1,995PhilHealthdeductionSSS DeductionP44,00037,50010,000P91,500PhalHealth ContributionTotalPag-ibigdeductionNon-Taxable IncomeBIR Withholding Tax ComputationGross Taxable IncomeLess: Total DeductionsTaxable IncomeTax DueP91,5001,995P89,50517,684.73Rice AllowanceLaundry AllowanceClothing AllowanceTransportation AllowanceTotal Non-Taxable Income2,000250502.000P4,750Net payTаx dueNET PAYTaxable IncomeMiguel Cabrera's Particulars ofSalaryNon-Taxable IncomeLess: Tax DueP09,50S4,75017,684.73SSS Deduction Pag-ibig deduction PhiHealth deduction Tax due Net payNet payP76,570.27

Based on the given information, Total Deductions=P1,125+P100+P770=P1,995

Employee Details Employee Name: Miguel Cabrera Employee ID: 12345 Hire Date: 11 0ctober 2021 Bank Account number 12345678 Department: Sales Llob Title: Sales Manager Payments Taxable Income Basic Salary Commission Over time pay Gross Taxable Income Deductions SSS Contribution Pag-ibig Contribution PhảlHealth Contribution P1125 PhilHealth deduction SSS Deduction P44,000 37,500 10,000 P91,500 100 770 Total P1,995 Pag-ibig deduction Non-Taxable Income BIR Withholding Tax Computation Gross Taxable Income P91,500 1.995 P89,505 17,684.73 Rice Allowance Laundry Allowance Clothing Allowance Transportation Allowance 2,000 250 50 Less: Total Deductions Taxable Income Tax Due Net pay Tax due 2.000 P4,750 Total Non-Taxable Income Miguel Cabrera's Particulars of Salary NET PAY Taxable Income P09,50S Non-Taxable Income Less: Tax Due 4,750 17,684.73 sSS Deduction Pag-ibig deduction PhIHealth deduction Tax due Net pay Net pay P76,570.27

Employee Details Employee Name: Miguel Cabrera Employee ID: 12345 Hire Date: 11 0ctober 2021 Bank Account number 12345678 Department: Sales Llob Title: Sales Manager Payments Taxable Income Basic Salary Commission Over time pay Gross Taxable Income Deductions SSS Contribution Pag-ibig Contribution PhảlHealth Contribution P1125 PhilHealth deduction SSS Deduction P44,000 37,500 10,000 P91,500 100 770 Total P1,995 Pag-ibig deduction Non-Taxable Income BIR Withholding Tax Computation Gross Taxable Income P91,500 1.995 P89,505 17,684.73 Rice Allowance Laundry Allowance Clothing Allowance Transportation Allowance 2,000 250 50 Less: Total Deductions Taxable Income Tax Due Net pay Tax due 2.000 P4,750 Total Non-Taxable Income Miguel Cabrera's Particulars of Salary NET PAY Taxable Income P09,50S Non-Taxable Income Less: Tax Due 4,750 17,684.73 sSS Deduction Pag-ibig deduction PhIHealth deduction Tax due Net pay Net pay P76,570.27

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter3: Taxes On The Financial Statements

Section: Chapter Questions

Problem 3BD

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