In 2018, GN, a MWE, received from her employer an annual minimum wage salary of P99,702. Aside from this, she also received P8,00 for holiday pay, overtime pay, and night shift differential pay. Furthermore, she received P8,303 as her 13th- month pay. What amounts shall she be taxable on?
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- Freda is a cash basis taxpayer. In 2019, she negotiated her salary for 2020. Her employer offered to pay her 21,000 per month in 2020 for a total of 252,000. Freda countered that she would accept 10,000 each month for the 12 months in 2020 and the remaining 132,000 in January 2021. The employer accepted Fredas terms for 2020 and 2021. a. Did Freda actually or constructively receive 252,000 in 2020? b. What could explain Fredas willingness to spread her salary over a longer period of time? c. In December 2020, after Freda had earned the right to collect the 132,000 in 2020, the employer offered 133,000 to Freda at that time, rather than 132,000 in January 2021. The employer wanted to make the early payment so as to deduct the expense in 2020. Freda rejected the employers offer. Was Freda in constructive receipt of the income in 2020? Explain.Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of the rental agreement, Shanna pays 8,400 rent on April 1, 2019, for the 12 months ending March 31, 2020. a. How much is Shannas deduction for rent expense in 2019? b. Assume the same facts, except that the 8,400 is for 24 months rent ending March 31, 2021. How much is Shannas deduction for rent expense in 2019?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.
- 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!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?The taxable income of Jenny for first week of January 2021 was R3 220. She did not earn overtime pay or any other remuneration. Her weekly pension deduction was R280. Her other deductions amounted to R800. Which one of the following statements is true? Select one: O A. Her contribution to the pension fund was 8% of her normal pay. O B. Her net wage was R2 140. O C. Her gross wage was R4 300. O D. Her gross wage for January 2021 was higher than her basic wage.
- Sophie is a single taxpayer. For the first payroll period in July 2019, she is paid wages of $2,200 monthly. Sophie claims one allowance on her Form W-4. a. Use the percentage method to calculate the amount of Sophie's for a monthly pay period. Sophie Withholding:$ b. Use the wage bracket ethod to determine the amount of Sophie's withholding for the same period. $Morgan Cruise earns net self-employment income of $221,000. She works a second job from which she receives FICA taxable earnings of $108,200.00. (2019 = $132,900)Self-Employment tax =During the year ended 30 Jun 2021, Chana, a resident of Australia, has received rents of $56,000 and salary of $15000. Her allowable deductions for the year are $5000. Required: Calculate her taxable income.
- Allan has a gross income of P400,000 in 2020. His employer deducted P5,000 SSS, P4,000 PHIC, P3,000 HDMF, P2,000 union dues, and P80,000 creditable withholding tax. How much is the total final tax due of Allan?. Dalyce Bonham, an employee in Alberta, earns $1630.00 bi-weekly, receives a noncash taxable benefit of $54.60 per pay, and is paid a bonus of $1,200. This is her second bonus this year; the first one, $1500, was paid 3 months ago. The bonus is to be paid along with Dalyce's regular pay. The federal net claim code on her TD1 is 3, and on her Alberta TD1 it is 3. Calculate Dalyce's net pay