Carding earns income from both employment and business. He earned P350,000 taxable compensation, excluding P90,000 exempt...
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Carding earns income from both employment and business. He earned P350,000 taxable compensation, excluding P90,000 exempt compensation, and a net loss in his business in the amount of P125,000. Compute the taxable income of Carding: X, an employee of ABC Corporation, died. ABC Corporation gave X's widow an amount equivalent to X's salary for one year or a total of P900,000. The company also paid X's widow the amount of P145,000 representing unpaid bonuses and allowances of the deceased. How much of the amounts paid to the widow is taxable as income to her? Carding earns income from both employment and business. He earned P350,000 taxable compensation, excluding P90,000 exempt compensation, and a net loss in his business in the amount of P125,000. Compute the taxable income of Carding: X, an employee of ABC Corporation, died. ABC Corporation gave X's widow an amount equivalent to X's salary for one year or a total of P900,000. The company also paid X's widow the amount of P145,000 representing unpaid bonuses and allowances of the deceased. How much of the amounts paid to the widow is taxable as income to her?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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