Jongwe has total income of £115,315 for 2021/22. He made occupational pension contribution of £4,000 (gross). His personal allowance for 2021/22 will be: £12,570 £0 £6,912.50 4912.50
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Jongwe has total income of £115,315 for 2021/22. He made occupational pension contribution of £4,000 (gross).
His personal allowance for 2021/22 will be:
-
£12,570
-
£0
-
£6,912.50
-
4912.50
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- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.Virginia and Richard are married taxpayers with adjusted gross income of $28,000 in 2019 If Virginia is able to make a $1,500 contribution to her IRA and Richard makes a $1,500 contribution to his IRA, what is the Saver's Credit Virginia and Richard will be eligible for? $0 $1,500 $2,000 $3,000 $4,000Mr. Daniel had an Total Net Income of £104,000 in 2019-2020 tax year. His personal pension contribution is £2000 Gross. What will be the amount of his Adjusted Net Income? a. £11,500 b. £92,500 c. £101,500 d. £102,000
- In 2021, Mr. Crisanto Reyes, a Minimum Wage Earner, received the following from his employer:Annual minimum wage salary, P167,500;Holiday pay, overtime pay, and night shift differential pay, P10,000;13th-month pay, P13,000How much is his income tax due?Mary Jane earns $4,000,000.00 per annum for her salary. How much would be her taxable income for 2024 as an employee? Assuming that her monthly salary is an equal amount each month and 5% pension contribution.Marcus Gravey, an Executive Manager at Bank oF America receives a salary of $6,500,000.00 per annum and his employer provides him with a 2019 Toyota RAV4 which was purchased for $7.5million. It is estimated that Mr. Gravey’s private use of the vehicle is 45%. Mr. Gravey contributes 10% of his annual salary to an approved pension scheme. For the year of assessment 2021 calculate the following for Mr. Gravey: Statutory Income Social Security Tax, Housing Tax, Education Tax Taxable Income PAYE Net Pay
- Reyes earns purely compensation income for the year 2021 with an annual basic salary of Php480,000.00 and other compensation received as follows: Holiday, OT and Night Differential Pay – Php56,091.95 Sick leave conversion (3 leave credits) – Php5,517.24 Government Mandatory Contributions – Php21,900.00 How much is the total non-taxable income for the year 2021? How much is the total taxable income for the year 2021? How much is the income tax due for the year 2021?n the tax year 2019/20, Emmanuel receives an employment income of £180,000 from ABC Ltd. He made a gross gift aid donation of £10,000 in February 2020. What is Emmanuel’s income tax liability for the tax year 2019-20?Mr. Ramos earns purely compensation income for the year 2021 with an annual basic salary of Php480,000.00 and other compensation received as follows:Holiday, OT and Night Differential Pay – Php56,091.95Sick leave conversion (3 leave credits) – Php5,517.24Government Mandatory Contributions – Php21,900.00 a. How much is the total non-taxable income for the year 2021? b. How much is the total taxable income for the year 2021? c. How much is the income tax due for the year 2021?
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