The total amount of deductions from an employee's gross pay is $105.50. If the gross pay is $450.75, what percent of their gross pay is being withheld?
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- An individual who is eligible to be claimed as a dependent on another's return and has $1,000 of earned income may claim a standard deduction of $1,400. Group startsTrue or FalseTrue, unselectedFalse, unselectedIf an employee X has CNA =₱18,291.09, 13th month pay = ₱27,891.00, other benefits = ₱10,000, and ₱3,000 of the other benefits is the clothing allowance. How much of his benefits is taxable? How much is Non- Taxable?What was the total amount of deduction ?
- A. Compute for the Net Taxable Income and Personal Income Tax. 1. A. Annual Basic Salary B. 13th Month Pay and Other Benefits C. Mandatory Contributions D. Annual Gross Income (A+B) E. Deductions and Exemptions (B+C) P 397,860.00 33,155.00 6,542.00 Net Taxable income (D-E) Personal Income Tax B. Compute for the 4 general deductions of the following employees: 1. A sales manager in Kopimo, Inc., a private company, earning P42,000 monthly with sales commission of P36,000 for the year. 2. A public school teacher earning P24,495 monthly with chalk allowance of P1,500, uniform allowance of P6,000 and performance bonus of P12,000. 3. An IT manager in Accentuate Corp., a private company, earning P55,000 monthly and laundry allowance of P15,000 for the whole year. C. Basic Applications. Solve for the following: 1. Conchita works as a service crew member in a fast-food chain in a mall. She has an hourly wage rate of P50. Her rest days are every Wednesday and Saturday. Consider the following…2. In this pay, Moss Company deducted OASDI taxes of $5,276.24 and HI taxes of $1,233.95 from the $85,100.90 of taxable wages paid. What is Moss Company’s portion of the social security taxes for: (a) OASDI?(b) HI?Don't Use Ai
- need help this questionsTRUE OR FALSE Overtime pay is part of deductions. 7. Taxes are added in the deductions. 8. Other benefits and payment of loans are deducted from the gross earnings. 9. If the total deduction is 0, then it follows that gross earnings is non-taxable. _10. If the gross deductions is more than the net earnings, then the net earnings is more than half of the gross earnings. 11. If total earnings is thrice of the deduction, then the net pay is twice of the deduction. _12. The sum of the deduction to and net pay sometimes equal to the total earnings. _13. If the total earnings is total to the deduction, then the net pay is twice as much as the deduction. _14. All wage earners can avail all benefits of a wage earner. _15. The total earnings of any employee is not always equal to the basic pay. _16. An employer can give 14th month pay to all of his employees that is equivalent to the 13th month pay. _17. Living allowance is a must benefits given to all employees. 18. A pregnant…Then, calculate the Taxable Income for 2021. (Round your answers to the nearest dollar.) Employment income ABIL Taxable capital gain Allowable capital loss (disallowed ABIL) Net taxable capital gains 2021 Net income Capital gains deduction 2016 Net capital loss deducted 2021 Taxable income
- Franklin Stewart arrived at the following tax information: Gross salary Interest earnings Eligible dividend income Basic personal amount Union dues Moving expense (58 km for employment) $ 52,00€ 330 128 3,650 8,470 2,950 What amount will Franklin report as taxable income? (Round your answer to the nearest dollar amount. Omit the "S" sign in your response) Taxable incomeA single individual pays $7,813 on a taxable income of $47,810 and $7,838 on a taxable income of $47,910. What is the marginal tax rate? a. 16% b. 50% c. 25% d. 15%13. Pat generated self-employment income in 2019 of $76,000. The self-employment tax is: a. b. C. d. $0. $5,369.23. $10,738.46. $11,628.00.
