Which of the following correctly completes the sentence regarding the tax treatment of a housing allowance received by an ordained minister? The housing allowance is ____________ income for federal income tax purposes and ____________ income for self-employment tax purposes. Included in; included in. Included in; excluded from. Excluded from; included in. Excluded from; excluded from.

Which of the following correctly completes the sentence regarding the tax treatment of a housing allowance received by an ordained minister? The housing allowance is income for federal income tax purposes and income for self-employment tax purposes. Included in; included in. Included in; excluded from. Excluded from; included in. Excluded from; excluded from.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Under the 1987 Philippine Constitution To compute the income tax due, what are the 2 tax options of individuals earning income from self-employment and/or practice of profession whose gross sales/receipts do not exceed P3,000,000?
am. 138.
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