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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- Donald was killed in an accident while he was on the job. Darlene, Donald's wife, received several payments as a result of Donald's death. Review the payments below and then enter the amount to be included in Darlene's gross income in the table provided. a. Donald's employer paid Darlene an amount equal to Donald's three months' salary ($45,600), which is what the employer does for all widows and widowers of deceased employees. b. Donald had $21,200 in accrued salary that was paid to Darlene. c. Donald's employer had provided Donald with group term life insurance of $135,000, which was payable to his widow in a lump sum. Premiums on this policy totaling $23,600 had been included in Donald's gross income under § 79. d. Donald had purchased a life insurance policy (premiums totaled $172,000) that paid $415,000 in the event of accidental death. The proceeds were payable to Darlene, who elected to receive installment payments as an annuity of $37,000 each year for a 29-year period. She…Calculate the tax on a death benefit payable to the widower of an employee for $25,000.00 in Prince Edward Island.Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2022. During that time, he earned $44,000 of self-employment income. On April 1, 2022, 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 $178,000 in salary. Please no plagiarism What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year?
