Mr. Alpha, is an employee of ABC Company. He is not engaged in business nor has any other source of income other than his employment. For 2020, Mr. Alpha earned a monthly compensation income of Php 25,000 inclusive of his monthly contribution to SSS 1,125, PhilHealth 390, and HDMF amount to Php 100. He also received 13th month pay and bonuses amounting to Php50,000.00.
Mr. Alpha, is an employee of ABC Company. He is not engaged in business nor has any other source of income other than his employment. For 2020, Mr. Alpha earned a monthly compensation income of Php 25,000 inclusive of his monthly contribution to SSS 1,125, PhilHealth 390, and HDMF amount to Php 100. He also received 13th month pay and bonuses amounting to Php50,000.00.
Chapter3: Social Security Taxes
Section: Chapter Questions
Problem 4SSQ: Lori Kinmark works as a jeweler for a local company. She earns 1,000 per week, plus a year-end bonus...
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Question
What is the taxable income for the year 2020?
A. P25,000
B. P75,000
C. P280,620
D. P300,000
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT