Mrs. Manoban has a gross taxable compensation income of PHP 400,000 ad personal exemption of PHP 100,000. She earned additional PHP 2,000 by investing her money in time deposits plus PHP 3,000 interest income from lending money to a friend. Compute the taxable income PHP 400,000 PHP 302,000
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Mrs. Manoban has a gross taxable compensation income of PHP 400,000 ad personal exemption of PHP 100,000. She earned additional PHP 2,000 by investing her money in time deposits plus PHP 3,000 interest income from lending money to a friend.
Compute the taxable income
PHP 400,000
PHP 302,000
PHP 303,000
PHP 305,000
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- Mrs. Sanchez Mira had a gross taxable compensation income ofP400,000. She also earned an additional P2,000 by investing hermoney in time deposits plus P3,000 interest income from lendingmoney to a friend. Compute her taxable income.A woman is in the 15% tax bucket and itemizes her deductions. How much will her tax bill be reduced if she makes a$200 tax deductible contribution to charity A. $30 B. $200 C. $0 D. $17024. Mrs. Manoban has a gross taxable compensation income of PHP 400,000 and personal exemption of PHP 100,000. She earned additional PHP 2,000 by investing her money in time deposits plus PHP 3,000 interest income from lending money to a friend. Compute the taxable income a. PHP 305,000 b. PHP 400,000 c. PHP 302,000 d. PHP 303,000
- A married couple received $11,000 of social security benefits. a. Calculate the taxable amount of those benefits if the couple's provisional income is $24,500. b. Calculate the taxable amount of those benefits if the couple's provisional income is $42,500. c. Calculate the taxable amount of those benefits if the couple's provisional income is $65,000. a. b. " Taxable amount of benefits $ 01. Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and has declared one dependent under his name. Regular deductions from his monthly salary include SSS contributions amounting to ₱590.00, PhilHealth contributions amounting to ₱387.50, and PAG-IBIG contributions amounting to ₱100.00. Per month, ₱4,300.00 is deducted from his salary as withholding tax. a. Determine his net income per month and in one year.Ms. Joy operates a convenience store while she offers bookkeeping services to her clients. In 2022, her gross sales amounted to PHP 800,000, in addition to her receipts from bookkeeping services of PHP 300,000 and incurred costs and expenses of PHP 300,000 and PHP 100,000 respectively. How much is her tax due using the 8% tax rate?
- A married couple received $9,200 of social security benefits. a. Calculate the taxable amount of those benefits if the couple's provisional income is $20,500. b. Calculate the taxable amount of those benefits if the couple's provisional income is $38,000. c. Calculate the taxable amount of those benefits if the couple's provisional income is $56,000.A taxpayer made available the following financial information: Gross sales - Php 10,000,000 Cost of sales – Php 6,000,000 Expenses: Salaries and wages – Php 1,000,000 Transportation and travel – Php 20,000 Rental - Php 240,000 Representation expense – Php 100,000 Depreciation expense – Php 200,000 Office supplies – Php 20,000 Miscellaneous expenses – Php 10,000 How much is the taxable income if the taxpayer is an ordinary partnership and opted for OSD? Group of answer choices a. 2,410,000 b. 2,400,000 c. 6,000,000 d. 4,000,000Nicanor made the following donations to his children in 2021: To Jose – Agricultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Boni – New car worth Php 5 Million made on March 22, 2021 To Goyo – Cash in the amount of Php 5 Million made on April 19, 2021 1. How much is the donor’s tax to be paid on January 31, 2021? 2. How much is the donor’s tax to be paid on March 22, 2021? 3. How much is the donor’s tax to be paid on April 19, 2021?
- How much is the total income tax of Ana assuming she opted to be taxed at 8%? Ana, a self-employed resident citizen provided the following data for 2018 taxable year: Sales P2,800,000 1,125,000 650,000 Cost of sales Business expenses Interest income from peso bank deposit Interest income from deposit under FCDS 80,000 120,000 Gain on sale of land in the Phils. held as capital asset 500,000 with cost P1.5M when zonal is P1.2M P321,500 O P342,500 O P351,500 O P358,000JEN 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 JENAaron is a 34-year-old head of household and a self-employed taxpayer. He contributed the maximum amount to his IRA account during the current year, and his net earnings from his business totaled $29,000. How much can Aaron deduct forAGI this year? a.$5,000 b.$6,000 c.$3,800 d.$3,200 e.$- 0 -
