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1. An employee earns 35,000 a month. He receives his salary every 15th and 30th of the month. His conrtibutions and tax is being deducted fairly every cut-off.
A. How much is his gross earnings per cut-off?
B. How much is his withholding tax per cut-off?
C. Compute for his SSS, Philhealth, and PagIBIG every cut off.
D. How much is his net earnings every cut-off?
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- 9. Compute the prescribed minimum withholding tax of a manager whose monthly salary is P120 000 with transportation allowance of P20 000 and cost of living allowance of P25 000. How much will be her net earnings?1. For computing the OASDI taxes, the maximum self-employment earnings of any individual is $200,000. a. True b. False 2. If the self-employed individual is also an employee of another company, the wages received can reduce the amount of self-employment income that is taxed. a. True b. False 3. Ramsey Smith receives wages amounting to $93,500. His net earnings from self-employment amount to $68,600. Smith must count determining taxable self-employment income for OASDI taxes. a. $68,600 b. $147,000 c. $53,500 d. $93,500 of his earnings inPersonal Earnings. Perry makes $26.35 per hour and he works 37.5 hours per week, what is his total tax based on the following rate (round to the nearest cent)? Taxable Income Tax Rate $0 to $13,000.00 0.00% $13,001.00 to $50,000.00 7.65% $50,001.00 to $110,000.00 11.38% $110,001.00 and more 16.82% O a. $2,987.83 O b. $2,936.26 O c. $5,847.33 O d. S3,930.76
- If a man earns a salary of $16,104 a year and is paid semimonthly, how much is his semimonthly paycheck before taxes?If an employee makes $1,400 per month and files as single with no withholding allowances, what would be his monthly income tax withholding? A. What would it be if an employee makes $2,500 per month and files as single with two withholding allowance?1. Ms. Evelyn is tax compliance officer at the Bureau of internal revenue earning a monthly salary P35,196.00. How much is Ms. Evelyn's take home pay? 2. Allan S. Gala is a sales representative at a private pharmacy. He is given a monthly rice subsidy of P2,000.00. Over his monthly salary of P24,300.00. How much is his monthly net pay?
- If your gross salary is $273 000 and your taxable income is $73 000 and your tax rate is 25% how much is your net income?How much combined tax (in $) should be withheld from the paycheck of a single employee earning $3,275 per month and claiming zero withholding allowances? $Use the 2012 FICA tax rates, shown below, to answer the following question. If you are not self-employed and earn $118,000, what are your FICA taxes? Employee's Rates Matching Rates Paid by the Employer Self-Employed Rates 5.65% on first $110,000 7.65% on first $110,000 paid in of income 13.3% on first $110,000 of net profits wages 1.45% of income in excess of $110,000 1.45% of wages paid in excess of 2.9% of net profits in excess $110,000 of $110,000 FICA taxes are $: (Type an integer or a decimal. Round to the nearest cent as needed.)
- An appliance company has three installers. Larry earns $345 per week, Curly earns $480 per week, and Moe earns $575 per week. The company's SUTA rate is 5.4%, and the FUTA rate is 6.0% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings. a.) How much SUTA and FUTA tax (in $) does the company owe for the first quarter of the year? b.) How much SUTA and FUTA tax (in$) does the company owe for the second quarter fo the year?1. Payroll. Lorna Chavez is a line manager of Sunday Machine Works and is receiving a monthly salary of P30,000. She is the head of the family with two dependents. She got a cash advance of P1,500 on March 20 to be deducted from her take home pay on March 31. a) How much is her monthly net taxable income? b) How much is her take home pay as at March 15? March 31? Use the SS contribution rate of 4%, 2.75% for Philhealth, 2% of P5,000 for Pag-ibig. Gross Pay Less SS Semi monthly taxable income Less Withholding tax PH SS for half month Philhealth for half month Pag-ibig for half month Net earnings (take home pay) PxXx (xx) (xx) (xx) Pxx / 2 Pxx Use the Semi-monthly Withholding Tax Table Column 2. Pag-ibig Net Monthly Taxable Income Semi-monthly Taxable Income Pxx (xx) (xx) (xx) (xx) PrxProblem Solving. 1. Ms. Beta earned an annual compensation income of P1,140,000, net of statutory payments. Tax exempt 13th month pay and other bonuses – P95,000. How much is the taxable compensation income? 2. Assuming that Ms. Beta's employer already withheld half of her income tax due, how much is the remaining income tax due and payable? 3. How much is Ms. Beta's income tax due?