Jude, with a monthly salary of Php. 24,000.00, is an employee of Gomez Corp. He was on leave for one month but was paid his salary while on leave.
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Jude, with a monthly salary of Php. 24,000.00, is an employee of Gomez Corp. He was on leave for one month but was paid his salary while on leave. Determine the taxable income.
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- Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2023. During that time, he earned $74,000 of self-employment income. On April 1, 2023, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned $168,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Self-employment/FICA taxMr. 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?Valentina is single and claims no dependents. Assume that Valentina has only one job or that step 2 of Form W-4 is not checked. Use the Wage Bracket Method Tables for Manual Payroll Systems with Forms W-4 from 2020 or Later available online in Publication 15, Publication 15-T. "Federal Income Tax Withholding Methods." Use the appropriate wage bracket tables for a manual payroll systems Required: a. If Valentina is paid weekly and her annual wages are $82,680, what is the amount of withholding per paycheck? b. If Valentina is paid monthly with annual wages of $68,640, what is the amount of withholding per paycheck? c. If Valentina is paid biweekly with annual wages of $63,960, what is the amount of withholding per paycheck? d. If Valentina is paid semimonthly with annual wages of $77,160, what is the amount of withholding per paycheck? Amount a Withholdings per paycheck (b Withholdings per paycheck e Withholdings par paycheck d. Withholdings pet payg
- Cal Ruther, an employer, is subject to FICA taxes but exempt from FUTA and SUTA taxes. During the lastquarter of the year, his employees earned monthly wages of $8,500, all of which is taxable. The amountof federal income taxes withheld each month is $1,040. Journalize the payment of wages, and recordthe payroll tax on November 29.Bing, resident citizen, operated her online selling without permit to engage in business. During the year, she earned a total income of P900,000. How much is the taxable income? A. ZERO B. 650,000 C. 900,000Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2023. During that time, he earned $86,000 of self-employment income. On April 1, 2023, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned $206,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Answer is complete but not entirely correct. S 15,711 Self-employment/FICA tax
- Terese is a director of Connolly Corporation and is paid directors' fees of $6,000.00 quarterly. Terese is not on the regular payroll and is not exempt from Québec Pension Plan contributions. Calculate Terese's Québec Pension Plan contribution on this payment.Suresh a salaried employee, furnishes the following information in respect of the previous year 2021-22-Salary income (before standard deduction): Rs.4, 50,000; debentures interest: Rs.1,75,000; payment of life insurance premium on life of grandmother: Rs. 10,500; contribution to Prime Minister’s Draught Relief Fund: Rs.20,000. Determine the net income of Ramesh for the assessment year 2022-23, assuming income from long term capital gain is Rs. 100,000 and he deposited Rs. 50,000 in public provident fund. Calculate his tax liability for the assessment year 2022-233. Fess receives wages totaling $75,700 and has net earnings from self-employment amounting to $61,300. In determining her taxable self-employment income for the OASDI tax, how much of her net self-employment earnings must Fess count?
- Lisa is single and claims no dependents. Assume that Lisa has only one job or that step 2 of Form W-4 is not checked. Álso, her employer uses wage bracket tables for a manual payroll available online in Publication 15-T, "Federal Income Tax Withholding Methods." Use the appropriate wage bracket tables for a manual payroll systems. Required: If she is paid weekly and her annual wages are $78,000, what is her withholding per paycheck? if she is paid monthly and her annual wages are $60,000, what is her withholding per paycheck? if she is paid biweekly and her annual wages are $61,620, what is her withholding per paycheck? if she is paid semimonthly and her annual wages are $75,000, what is her withholding per paycheck?An individual has year-to-date earnings prior to the current period of $138,500, earns $3,600 during the current period, and has a tax return filing status of single. Her self-employment taxes are $__________An employer in Nesconset, NY, employs three individuals, whose taxable earnings to date (prior to the current pay period) are $6,900, $1,000, and $24,200. During the current pay period, these employees earn $2,200, $1,950, and $2,800, respectively.FUTA tax = $ What is the FUTA tax? The FUTA rate is for year 2022 The FUTA rate for this problem is 0.9%
