Based on the withholding tax table above solve the following problems: I am receiving monthly compensation in the amount of P65,000. From my paycheck, ABC Inc., deducted the following : SSS contribution P1,500; Philhealth Contribution P500.00 and Pag-ibig Contribution P1,000.00. My voluntary deduction on my loan is P3,500.00; and a deduction of P800.00 for my tardiness. 1. What is my gross paycheck for the month? 2. Calculate my total mandatory deductions. 3. How much would be my taxable income?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Based on the withholding tax table above solve the following problems: I am receiving monthly compensation in the amount of P65,000. From my paycheck, ABC Inc., deducted the following : SSS contribution P1,500; Philhealth Contribution P500.00 and Pag-ibig Contribution P1,000.00. My voluntary deduction on my loan is P3,500.00; and a deduction of P800.00 for my tardiness.
1. What is my gross paycheck for the month?
2. Calculate my total mandatory deductions.
3. How much would be my taxable income?
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