Calculating the tax on the taxpayer's income, Ahmed only

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The taxpayer Ahmed is an employee of the Advanced Communications Company
His monthly income in cash is 5,000 shekels, and he receives the following benefits:

-1000 transportation allowance -

300 allowances for meals and entertainment parties

If you know that:

He pays a contribution to the Social Security Fund an amount of 200 shekels and teaches himself at the University of Hebron for a master's degree. He is also married to Sarah, who works in the government with a monthly salary of 6000 shekels and receives a transportation allowance of 500 shekels, and she is doing the construction of a house for the family at a cost of 400,000 shekels financed with a loan with interest of 1% annually

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Calculating the tax on the taxpayer's income, Ahmed only

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