Rahima works at Grameen phone and her current salary is 32,000 taka per month on July 1, 2020. She received a 8% raise on April 1, 2021. What is her annual salary for the income year and tax liability? (number only for answer, do not show calculation)
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- On January 1, 2019, Kunto, a cash basis taxpayer, pays 46,228 for a 24-month certificate. The certificate is priced to yield 4% (the effective interest rate) with interest compounded annually. No interest is paid until maturity, when Kunto receives 50,000. In your computations: a. Compute Kuntos gross income from the certificate for 2019. b. Compute Kuntos gross income from the certificate for 2020. Round any amounts to the nearest dollar.In 2019, Lou has a salary of $53,300 from her job. She also has interest income of $1,600 and dividend income of $ 400. Lou is single and has no dependents. During the year, Lou sold silver coins held as an investment for a $7,000 loss. Calculate the following amounts for Lou: Adjusted gross income $ ____________________ Standard deduction $ ____________________ Taxable income $ ____________________During 2019, Jake Gore worked for two different employers. Until May, he worked for Wonderman Construction Company in Kansas City, Kansas, and earned 21,500. The state unemployment rate for Wonderman is 4.6%. He then changed jobs and worked for Buxmont Improvement Company in Mobile, Alabama, and earned 33,100 for the rest of the year. The state unemployment rate for Buxmont is 5.1%. Determine the unemployment taxes (FUTA and SUTA) that would be paid by: a. Wonderman Construction Company................................ _______ b. Buxmont Improvement Company.................................... _______
- Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000. Calculate the maximum contribution Carl is allowed for an educational savings account. $0 $400 $1,000 $2,000 Some other amountFrederick Grant is employed by Jabex Ltd as an Engineer. He earns 270,000 per month as a gross salary. the company has an approval pension scheme to which he contributes 5 % of his salary. He also has a car loan payment of $25,000 per month. Calaulate Fredrick Grant income tax computation and net pay for the month April 2019
- During 2019, Matti Conner, president of Maggert Company, was paid a semimonthly salary of $6,000. Compute theamount of FICA taxes that should be withheld from her:OASDI HIa. 9th paycheck $b. 22nd paycheck $c. 24th paycheck $d. If Matti Conner’s year-to-date earnings as of her 24th paycheck are $144,000 and her year-end bonus is$100,000, how much is the additional 0.9% HI taxwithheld? $Ben Franklin earns $4,000.00 weekly. Additional information necessary to determine Naiser's tax withholding can be found on the attached 2019 W-4. He has 4 allowances. Married. On 2019-W2 Form. Gross wages 4,0000Allowances value 83.00Number of allowances 4Total amount of alloeances 3324,0000 - 332 = 3,668Bracket Range ?Wages start at ______ but not over ____Compute value over starting wage for that bracket_____________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?
- B is a newly hired employee (November 2021) and has a monthly compensation package of a basic pay amounting to P20,000. How much will be deducted from his gross salary for his monthly SSS premium contribution? PhP2,630.00 PhP900.00 Php800.00 PhP2,430.001. A, resident citizen, has the following income for year 2019: Compensation income of 1,000,000 and Other income of 200,000. What is the income tax due? 2.The minimum wage in Marawi City is 550 per day. A, a laborer, earns 900 per day. He worked for 280 days in 2019. How much is the ANNUAL income tax due of A? 3. Asta, non-resident citizen has the following income for 2019: Business income in USA of 7,000,000 and; Compensation income of 2,000,000 earned in the Philippines. How much is the income tax due of Asta?4) Listen Debbie earns an annual salary of $80,000 per year. Paid Biweekly. She contributes 2% of her biweekly gross salary to RRSP. She receives a group life non cash taxable benefit of $35.00 and a $85.00 cash cell phone allowance per pay. It is March 2021 and she has not hit any maximums. Her claim code is 1. Please calculate her gross earnings, El contribution, CPP contribution, income tax contribution and her net pay. Please note you must show all formulas/work or you will receive zero. Gross Earnings: (1) El Contribution: (1). CPP Contribution: (1) Income Tax Contribution - Federal. Income Tax Contribution - Provincial Net Pay: (1) Format
