Josie is a resident citizen who earned the following during the current taxable year: (1) Royalty income from abroad - P120,000; (2) Interest income from his loan extended to his friend living abroad - P30,000; (3) Dividend income from Globe Telecom Inc - P10,000.
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Josie is a resident citizen who earned the following during the current taxable year:
(1) Royalty income from abroad - P120,000;
(2) Interest income from his loan extended to his friend living abroad - P30,000;
(3) Dividend income from Globe Telecom Inc - P10,000.
How much income is subject to regular income tax?
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- Mr. Sotto is a resident citizen who earned the following during the current taxable year: (1) Royalty income from abroad - P120,000; (2) Interest income from his loan extended to his friend living abroad - P30,000; (3) Dividend income from Globe Telecom Inc - P10,000. How much income is subject to regular income tax?Diosdado Gomez, Jr. is a non-resident citizen taxpayer. He has the following interest income for the year 2019: Interest income - BDO Philippines 120,000 Interest income - Bank of China 250,000 Interest income received by a taxpayer from a depository bank under FCDS, Philippines 80,000 1. How much is the Final Withholding Tax on interest income of taxpayer from BDO Philippines? 2. How much is the Final Withholding Tax on interest income of taxpayer from Bank of China? 3. How much is the Final Withholding Tax on interest income received by a taxpayer from a depository bank under FCDS, Philippines? 4. How much of the total interest income of Mr. Gomez is subject to the Final withholding Tax? 5. How much is the total Final Withholding Tax of the taxpayer for the year 2019?During the current year, Seth, a self-employed individual, paid the following taxes: Federal income tax $15,000 State income tax $6,500 Real estate taxes on land in South America (held as an investment) $700 State sales taxes 300 Personal property taxes based upon value $1,600 Federal self-employment tax $ 800 What amount can Seth claim as an itemized deduction for taxes paid during the current year? a.$9,100 b.$10,000 c.$9,900 d.$8,800 e.None of these choices are correct.
- Accounting Gary wants you to calculate his personal income tax liability. He is a tax resident of Australia. During the year ended 30 June 2022 he received the following: Gross salary and wages of $138,000. His employer deducted from his salary PAYGW tax of $22,523. Interest income of $678 from the ANZ Bank Interest of $32 from the BNZ Bank in New Zealand. The $32 is after the New Zealnd Tax Authorities deducted withholding tax of $5.2O. A dividend of $156 from Rio Tinto. He also spent $250 on text books for his work as an IT engineer. He does not have private hospital cover. Required: Calculate his taxable income and his total tax payable for the year ended 30 June 2022.During the current year, Seth, a self-employed individual, paid the following taxes: Federal income tax $15,000 State income tax $6,500 Real estate taxes on land in South America (held as an investment) $700 State sales taxes 300 Personal property taxes based upon value $1,600 Federal self-employment tax $ 800 What amount can Seth claim as an itemized deduction for taxes paid during the current year?Campbell, a single taxpayer, earns $406,000 in taxable income and $2,480 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.) Required: a. If Campbell earns an additional $ 16,200 of taxable income, what is her marginal fa rate on this income ? b. What is her marginal rate if, instead, she had $ 16,200 of additional deductions ? Note: For all requirements, do not round intermediate calculations. Round percentage answers to whole percent.
- X, a resident citizen, is engaged in business. In Taxable Year 2023, X declared the following: Sales, P1,000,000; Cost of sales and expenses, P600,000Lotto winnings, USA, P20,000.Also, X claimed in his income tax return a personal exemption of 50,000, as head of the family. How much is the basic income tax due of X for the Taxable Year 2023?Campbell, a single taxpayer, earns $411,000 in taxable income and $2,880 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.) Required: a. If Campbell earns an additional $17,200 of taxable income, what is her marginal tax rate on this income? b. What is her marginal rate if, instead, she had $17,200 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to whole percent. a. Marginal tax rate b. Marginal tax rate % %Campbell, a single taxpayer, earns $442,000 in taxable income and $4,100 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.) Required: a. How much federal tax will she owe? b. What is her average tax rate? c. What is her effective tax rate? d. What is her current marginal tax rate?
- Jason is an Australian tax resident and for the financial year 2019-20, has taxable income of $ 61,000 and reportable super contribution of $ 3,500. Jason also has a Study and Training Support loan (HELP-HECS) from undertaking a University degree. What is Jason's compulsory rate of repayment on this loan?Compute for the tax due of the following self-employed individuals: (PHILIPPINES) Anna Frozen operates an ice cream store while she offers bookkeeping services to her clients. In 2018, her gross sales amounted to P400,000, in addition to her receipts from bookkeeping services of P150,000. She already signified her intention to be taxed at 8% income tax rate in her 1st quarter return. What is her tax due liability in her 1st quarter return?Mateo Lopez is not a resident of Canada. For the current year, Mateo has a worldwide income of $120,000, including $15,000 of employment income earned in Canada and $2,000 of interest received on Canada savings bonds. The remainder of his income was from sources outside of Canada. What amount of income must be reported on Mateo’s Canadian personal income tax return for the current year? Please do fast ASAP fast
