A. 2,170,000 B. 238,000 C. 170,000 D. 136,000 A private employee retired at 60 in the middle
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A. 2,170,000
B. 238,000
C. 170,000
D. 136,000
Transcribed Image Text:
A private employee retired at 60 in the middle of the year and was paid the following remunerations: Retirement benefits 2,000,000 120,000 Terminal leave pay/benefit (150 accumulated leaves of which 10 VL is de minimis) Compensation (net of 16,000 mandatory contributions) 128,000 Profit sharing 8,000 Prorated 13th month pay 12,000 Compute the taxable compensation income. A private employee retired at 60 in the middle of the year and was paid the following remunerations: Retirement benefits 2,000,000 120,000 Terminal leave pay/benefit (150 accumulated leaves of which 10 VL is de minimis) Compensation (net of 16,000 mandatory contributions) 128,000 Profit sharing 8,000 Prorated 13th month pay 12,000 Compute the taxable compensation income.
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Related Book For
Introduction To Business Law
ISBN: 9780324826999
3rd Edition
Authors: Jeff Rey F. Beatty, Susan S. Samuelson
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