1. Maria Clara Santos works is an accountant with her own accounting firm as well as

teaching full time in a university. She earns an annual income of 2,679,000 from

the operation of her firm. She is married with 4 children all minors. She also

receives income of 58,900 per month in the university. She receives 13 th and 14 th

month pay, and other benefits amounting to 246,099 (excluding 13 th and 14 th month

pay). Compute for her annual tax return.

2. Mr. Sadot Basa earns a monthly income of 45,690. He receives his income twice a

month (15 th and 30 th ). Assume that compulsory contributions are to be deducted

from employees every 30 th . Mr. Basa had 5 tardiness this month and is to be

deducted the amount of 341.25 on the 30 th ; there were 2 holidays this month so he

has to receive the amount of 7,029.23 both to be given on the 15 th , plus the benefit

on laundry 3,400 (15 th ), load allowance 800 (30 th ), and rice allowance 5,500(30 th ).

Compute for his take home pay on the 15 th and 30 th