Scribd Logo
Upload

Welcome to Scribd!

  • 35 views

    Excel Inc Tax 1

    Uploaded by

    Lysss Epssss
    The document shows an employee's compensation breakdown for the year. It details regular pay of $305,850, supplemental income of $63,000 and mandatory deductions of $54,150, for total regular compensation of $368,850. It also lists the amounts received for 13th month pay and other benefits totaling $101,000, with $72,600 classified as non-taxable, $33,400 as taxable excess, and a total non-taxable compensation of $216,750.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Excel Inc Tax 1

    Uploaded by

    Lysss Epssss
    35 views1 page
    The document shows an employee's compensation breakdown for the year. It details regular pay of $305,850, supplemental income of $63,000 and mandatory deductions of $54,150, for total regular compensation of $368,850. It also lists the amounts received for 13th month pay and other benefits totaling $101,000, with $72,600 classified as non-taxable, $33,400 as taxable excess, and a total non-taxable compensation of $216,750.

    Original Description:

    Original Title

    EXCEL INC TAX 1

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document shows an employee's compensation breakdown for the year. It details regular pay of $305,850, supplemental income of $63,000 and mandatory deductions of $54,150, for total regular compensation of $368,850. It also lists the amounts received for 13th month pay and other benefits totaling $101,000, with $72,600 classified as non-taxable, $33,400 as taxable excess, and a total non-taxable compensation of $216,750.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    35 views1 page

    Excel Inc Tax 1

    Uploaded by

    Lysss Epssss
    The document shows an employee's compensation breakdown for the year. It details regular pay of $305,850, supplemental income of $63,000 and mandatory deductions of $54,150, for total regular compensation of $368,850. It also lists the amounts received for 13th month pay and other benefits totaling $101,000, with $72,600 classified as non-taxable, $33,400 as taxable excess, and a total non-taxable compensation of $216,750.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    De minimis Non-taxable Other Benefits Taxable Benefits

    Regular and supplementary compensation


    Mandatory deductions 54,150.00
    Regular compensation 305,850.00
    Supplemental compensation
    Commission income 28,000.00
    Overtime pay 35,000.00
    Pre-computed daily transportation allowance 20,000.00
    Total - 368,850.00
    13th month pay and other benefits
    13th month pay 30,000.00
    Other benefits:
    Vacation expense paid by the employer 15,000.00
    14th month pay 30,000.00
    Excess de minimis
    Rice subsidy 60,000.00 24,000.00 36,000.00
    Monetized vacation leave 20,000.00 20,000.00 -
    Monetized sick leave 10,000.00 - 10,000.00
    Christmas gift 5,000.00 5,000.00 -
    Laundry allowance 6,000.00 3,600.00 2,400.00
    Total 101,000.00 72,600.00 123,400.00 368,850.00
    Exclusion Threshold 90,000.00 - 90,000.00
    Total 162,600.00 33,400.00
    Total Non-taxable compensation 216,750.00
    Taxable excess 13th month pay and other benefits - 33,400.00 33,400.00
    Taxable Compensation Income 402,250.00

    You might also like