Question: How much is the taxable net income using optional standard deduction ? How much is the deductible pension contributions for 2022? How much is the
How much is the taxable net income using optional standard deduction ?
How much is the deductible pension contributions for 2022?
How much is the taxable net income using itemized deduction?
Compensation income, Philippines 200,000.00
Rental income, Philippines 100,000.00
Net sales, Philippines 1,000,000.00
Cost of goods sold, Philippines 300,000.00
Interest from bank deposits, Philippines 200,000.00
Interest from bank deposits, Abroad 100,000.00
Consider the following information regarding a corporation's pension contributions
2020 | 2021 | 2022 | |
Current service costs | 200,000.00 | 200,000.00 | 200,000.00 |
Past service costs | 50,000.00 | 30,000.00 |
|
2021 | 2022 | |
Revenues from conduct of business | 1,000,000.00 | 700,000.00 |
Business expenses | 500,000.00 | 300,000.00 |
Capital gains - short term | 50,000.00 | 40,000.00 |
Capital gains - long term | 30,000.00 | 40,000.00 |
Capital loss - short term | 60,000.00 | |
Capital loss - long term | 50,000.00 | 20,000.00 |
How much is the taxable income in 2022 if the taxpayer is a corporate taxpayer?
Mr. Satin's net income before any charitable contributions amounted to 85,000.00. His charitable contributions were 10,000.00 to PGH and 10,000.00 to St. Luke's. How much is Mr. Satin's taxable net income?
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