Z, a poverty wages worker, earned the following in 2018: a basic income of P 140,000, a 20,000-peso overtime bonus, a 10,000-peso night shift difference, and a 100,000-peso 13-month bonus. Z's adjusted net earnings
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Z, a poverty wages worker, earned the following in 2018: a basic income of P 140,000, a 20,000-peso overtime bonus, a 10,000-peso night shift difference, and a 100,000-peso 13-month bonus. Z's adjusted net earnings is
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- During the year, employee Sean Matthews earned wages in the amount of 250,000. Discuss how the employees HI tax will differ from the employers HI tax for this employee.During 2019, Jake Gore worked for two different employers. Until May, he worked for Wonderman Construction Company in Kansas City, Kansas, and earned 21,500. The state unemployment rate for Wonderman is 4.6%. He then changed jobs and worked for Buxmont Improvement Company in Mobile, Alabama, and earned 33,100 for the rest of the year. The state unemployment rate for Buxmont is 5.1%. Determine the unemployment taxes (FUTA and SUTA) that would be paid by: a. Wonderman Construction Company................................ _______ b. Buxmont Improvement Company.................................... _______Lori Kinmark works as a jeweler for a local company. She earns 1,000 per week, plus a year-end bonus of 2,000. Kinmark also earns an additional net self-employment income of 28,000 per year. ____1.Compute Kinmarks annual earnings from employment. ____2.Compute Kinmarks total earnings from her job and from self-employment income. ____3.How much self-employment income should Kinmark include in computing taxable self-employment income for OASDI taxes? ____4.What are the total FICA taxes on her self-employment earnings?
- H, a minimum-wage worker, got the following in 2018: a basic income of P 140,000, a 20,000-peso overtime bonus, a 10,000-peso night shift difference, and a 100,000-peso 13-month compensation. Z's taxable net profit is.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?X, a minimum wage earner. In 2018, his salary and overtime pay totaled 200,000 and his hazard pay is 40,000. He received a 13th month pay of 80,000. At the same year, his business has net income of 700,000. He also noticed that his bank account in BDO was increased by 1,000 due to interest (from cr balance of 90,000; his bank account has credit balance of 91,000). What is the taxable income of X in 2018 subject to graduated tax rate?
- Elwin worked at three jobs during 2020. He earned $30,000, $27,000, and $9,000, respectively, from the jobs. What is the total amount of FICA tax that would have been withheld from Elwin's wages?B is a newly hired employee (November 2021) and has a monthly compensation package of a basic pay amounting to P20,000. How much will be deducted from his gross salary for his monthly SSS premium contribution? PhP2,630.00 PhP900.00 Php800.00 PhP2,430.00Catherine is employed in ABC Corporation. She received the basic wage for 2015 in the total amount of ₱234,000, inclusive of the 13th month pay. In the same year, she also received overtime pay of ₱40,000 and night-shift differential of ₱25,000. The monthly nontaxable deductions would be SSS (₱ 720.00), Philhealth (₱ 247.50), and HDMF (₱ 100.00). Compute for the withholding tax due.
- In 2018, Nelia Gomez, an MWE, received from her employer an annual minimum wage salary of ₱99,702. Aside from this, she also received ₱8,000 for holiday pay, overtime pay, and night shift differential pay. Furthermore, she received ₱8,303 as her 13th month pay. What amounts shall she be taxable on? a. ₱8,000. b. ₱107,702. c. ₱8,303. d. None.Nicanor was employed by ABC Corp. from April 1, 2020. He receives basic pay of Php 20,000 per month as compensation. During annualization of compensation in November, it was determined that he will also receive the following: Additional compensation allowance – Php 5,000 Cash gift – Php 5,000 Christmas bonus – Php 5,000 Loyalty award – Php 5,000 Performance bonus/productivity incentive – Php 10,000 How much is the 13th month pay?Mr. A, a minimum wage earner sales agent, received the following from his employer for the year 2021: Compensation Income P150,000; Overtime pay P10,000; 13th month pay P12,000; Commission from sales P300,000. What is the amount of taxable Income? Answer please!
