What is the monthly tax due? A. P513.00 B. P806.42 C. P6,160 D. P9,677 Mr. Alpha, is an employee of ABC Company. He is nof engaged inbusiness nor has any other source of income other than his employment. For2020, Mr. Alpha earned a monthly compensation income of Php 25,000inclusive of his monthly contribution to SSS 1,125, PhilHealth 390, and HDMFamount to Php 100. He also received 13th month pay and bonuses amountingto Php50,000.00.

Answer: Any income that is earned becomes the part of taxation excluding any SSS contributions or…

Answered: What is the monthly tax due? A.…

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 51P: Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys...

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JEN is the VP for Operations of Rich Company, with an annual salary of Php. 720,000.00. At the end of the year, he received a cash gift of Php. 90,000 in addition to his 13th month pay equivalent to his one-month salary. COMPUTE FOR THE GROSS COMPENSATION INCOME OF JEN. COMPUTE FOR THE TAXABLE COMPENSATION INCOME OF JEN
Mr. Santos received the following compensation and benefits for a year, working as an It officer. Annual basic Salary 13th month pay and bonuses Php300,000 75,000 Uniform allowance 5,000 4,000 Laundry allowance Rice subsidy 27,600 Determine how much of Mr.Santos' total compensation is taxable and how much of it is non-taxable.
Mr. Santos received the following compensation and benefits for a year, working as an IT officer. Annual Basic Salary 13th Month Pay and Bonuses Uniform Allowance Laundry Allowance Rice Subsidy Php 300,000 75,000 5,000 4,000 27,600 Determine how much of Mr. Santos' total compensation is taxable and how much of it is non-taxable.
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. 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 – Php56,091.95Sick leave conversion (3 leave credits) – Php5,517.24Government 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?
Johnny received a salary of 73,000 during the year consisting of: 60,000 basic salary, 8,000 overtime pay, 5,000 13th month pay. Compute Johnny's taxable income * 60,000 68,000 O 73,000 Mr. Juanito had the following income in 2021: Compensation Income, net of 77,000 SSS, PHIC,HDMF and union Dues - 300,000; Supplemental compensation income - 30,000; 13th month pay and other benefits - 25,000 * 402,000 330,000 375,000 380,000
.Industrious as he is known, Arthur, a non-VAT registered citizen, works and a government employee at daytime and accepts clients for accounting work after office hours. At the same time, Arthur maintains a t-shirt printing shop to earn more. For the taxable year ending December 31, 2021, Arthur earned the following amounts: Taxable compensation income P 850,000 Gross receipts from accounting work 1,500,000 T-shirt printing shop Gross sales P 1,400,000 Cost of sales (800,000) Gross income P 600,000 Operating expenses (400,000) Net income…
Yoona, married with 3 qualified dependent children, a regular employee of SM Town Company, receives on July 06, 2022, PHP 30,000 as a regular monthly salary and half of her 13th month pay amounting to PHP 15,000 plus other benefits such as rice allowance or July of PHP 2,500, productivity incentive pay of PHP 30,000, hazard pay of PHP 1,000 overtime pay of PHP 4,000 and night shift differential of PHP 2,000. The income subject to withholding tax in July is: 57,000 37,000 30,000 34,000
Please answer
Popoy is a messenger of Basha Logistics. He receives a monthly salary of P25,000. At the end of the year, Popoy received a cash gift of P6,000 in recognition of his services for 5yrs. In addition, he receives a monthly gas allowance of P1,000. What is the income tax liability of Popoy for the year? O 10,000 O 12,400 13,600 None of the above
Mr. L is the CEO of the prestigious Campuswise Cafe along Teresa St., Sta. Mesa. Manila. Also, he writes books, self-publish them, and distributes them to different bookstores in the Philippines. In the first week of January 2021, he resigned from Campuswise Cafe to concentrate on his self-publishing business. His total compensation income in 2021 amounted to P200,000 inclusive of other benefits and non-taxable items of of P35,000.In 2021, his self-publishing business had a gross sales of P2,500,000, cost of sales of P431,000, and operating expenses of P233,000. It also had a non-operating income of P143,000.How much is his income tax due in 2021 if he avails of the 8% income tax rate?
Alpesh

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