Mr. Raya 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 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?

Q: Mianel, an employee of XYZ Corp. is receiving regular monthly compensation in the amount of…

A: Monthly Compensation = 100,000 Non taxable deductions: GSIS = 9,000 Philhealth = 687.50 HDMF =…

Q: Lawrence received a salary advance of $50 on September 1. He plans to repay this advance from his…

A: Explanation: Lawrence taxable income for the September 15 paycheck= Net wages or Gross wages That is…

Q: ompensation income of P1,140,000, net of statutory payments. Tax exempt 13th month pay and other…

A: Taxable compensation income refers to the sum total of all the income derived from various…

Q: The taxpayer is a resident citizen who is married. The spouse had a gross compensation income of…

A: Gross compensation income It  is the  taxable income, that is  arising from an employer/employee…

Q: Compute for the tax due of the following individuals using the RA 10963 tax table. Show…

A: Taxable income is business income that is subject to taxation. Taxable income is defined differently…

Q: 1. Jonas Brown is employed as a mechanic in Country A. His emoluments is $40,000 per week . He…

A: To calculate Jonas Brown's annual deductions, we need to consider the various components of his…

Q: Compute the total income tax due on the income of Carding in 2021.

A: It has been given in the question that Carding has opted at the beginning of the year to use 8% tax…

Q: Ir Dolieov received the followin tion and benefits during the entire

A: In Phillipines certain allowances called de minimus benefits are…

Q: suppose a certain a government employee earns a cna of 18,000 290 1.0.9 at 13th month pay of 27891…

A: The Collected Negotiation Agreement (CNA) between the government and government…

Q: Bob's only source of income is from his consulting business operated as a sole proprietorship.…

A: As per our protocol we provide solution to one question only but as you have asked different…

Q: John Jenkins earns $1,290 per week. The deductions from his pay were: FIT $111.00 FICA—OASDI 79.98…

A: Step 1 Hello. Since your question has multiple parts, we will solve first question for you. If you…

Q: Frederick Grant is employed by Jabex Ltd as an Engineer. He earns 270,000 per month as a gross…

A: Only those who are self employed having their own business can claim a car loan deduction if car is…

Q: Mr. Alpha, is an employee of ABC Company. He is not engaged in business nor has any other source of…

A: The portion of your gross income known as "taxable income" is used to determine your tax liability…

Q: K Andy Palermo is a commission salesperson with a base salary of $98,000. In 2023, he earns…

A: To calculate K Andy Palermo's maximum deduction for expenses in determining his 2,023 employment…

Q: B. The following year, in addition to the compensation income and 13th month pay he received and…

A: Pure compensation Income For Calculating the taxable pure compensation income which also included…

Q: What is Mohamed's taxable income for 2019, note that the personal allowance is £10,600,

A: The final amount of income over which the tax rate is charged for the tax liability is known as…

Q: .Perquisite is monetary or non-monetary payments made to an employee, discuss the provisions of…

A: Particulars Rs. Rs.   Basic salary   150000 Dearness allowance(50000*40%)…

Q: Sue's 2022 net (take-home) pay was $23,205. Her only payroll deductions were for payroll taxes and…

A: Lets understand the basics.The employee's earnings, before taxes and withholdings, are referred to…

Q: Maureen Smith is a single individual. She claims a standard deduction of $12,400. Her salary for the…

A: The objective of the question is to calculate Maureen Smith's taxable income for the year. The…

Q: (v) Mr. Ravi, Guwahati is an employee of Govt. of Assam. His particulars of income for the previous…

A: Professional tax is the tax levied on the service provided to the employer or client. Any amount of…

Q: Senior citizens earning P300,000 a year from compensation income are exempted from income taxation.…

A:

Q: Mr. Li is employed by BDF, Incorporated. Required: a. Compute BDF's 2022 employer payroll tax with…

A: Employers pay employer payroll taxes, which are determined by the earnings and salaries of their…

Q: Compute the Income Tax due.

A: Income tax can be defined as the portion of income being paid to the tax authority or government.…

Q: John Boy's expected pre-tax bonus is $12,000. He earns a base salary of $52,000 and files as a…

A: After Tax Cash Flow (ATCF): It refers to the ability of any individual or business to generate funds…

Q: Based on ph  Joji, a resident citizen, has the following cumulative data from January to June 30,…

A: Sales and Salary expenses reported in the income tax return: Whether all the revenue from sales or…

Q: Ay 2 XYZ Ltd, a British Columbia employer, awards Theresa Ray a $1,950.00 bonus that will be paid…

A: A bonus is a form of extra compensation or reward given to an employee or group of employees in…

Q: Susan Cain is employed at Quiet Inc. and is paid a monthly salary of ₱70,000. How much is her net…

A: Monthly Salary = ₱70,000 Mandatory Deductions from Salary are: 1. Social Security System (SSS):…

Q: Mr. Carlo had the following income during the year: Gross compensation income (including 13th month…

A: Gross income is the total earnings a person receives before paying for taxes and other deductions.…

Q: A taxpayer employs a qualified PWD for a total salary of P50,000. Assuming taxpayer meets all…

A: IN ACCORDANCE TO SECTION 8 OF RA 7277 STATES THAT THERE IS A SPECIAL DEDUCTION OFFERED TO TAXPAYERS…

Q: Use the 2021 FICA tax rates, shown, to answer the following question. If a taxpayer is not…

A: The Federal Insurance Contributions Act (FICA) tax is a United States federal payroll tax imposed on…

Q: Eduard Montes generated annual compensation income of ₱ 455,000, net of statutory payments. Tax…

A: Tax obligation seems to be the sum of money owed to tax authorities with in manner of a tax debt.…

Q: Frank is a self-employed CPA whose 2021 net earnings from his trade or business (before the H.R. 10…

A: B) $48,000

Q: Jongwe has total income of £115,315 for 2021/22. He made occupational pension contribution of £4,000…

A: To calculate Jongwe's personal allowance for the tax year 2021/22, we need to take into account his…

Q: Below is the details of payroll for Ms Amirah as at 31st March 2021. Employee's Category Basic rate…

A: Gross Pay - It is the sum of all the monetary payment made to an employees without deduction of any…

Q: individuals using the RA 10963 tax table. Show computations. 1. An employee with annual salary of…

A: In the United States of America, the taxable income is all gross income of the entity that includes…

Q: What is the monthly net take home pay? *   A. P25,000       B. P24,486.67       C. P23,385       D.…

A: Compensation Income In Philippines compensation income which can be derived after deducting some…

Q: Ms. V is currently employed in VVV Company. She has the following income and withheld income tax in…

A: Compensation is the cash or non-cash revenue received by the employee from the employer over and…

Q: Gerardo de Guzman has a taxable compensation income of Php 135 000. He is single with two qualified…

A: As per Philippines laws, there is a mandatory deduction for up to four dependent children of an…

Q: Compute for the tax due of the following individuals using the RA 10963 tax table. Show…

A: In the United States of America, the taxable income is all gross income of the entity that includes…

Q: Keith, an employee of Sunbeam, Inc., has gross salary for May of $10,000. The entire amount is under…

A: The correct answer is option - credit to cash for $7135.00

Q: Disregarding business and professional income, how much is the gross compensation income of ROSE for…

A: The calculation of the gross compensation income of ROSE for the taxable income 2019 is shown…