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Reymar A. Gulan, a resident citizen has the following data below. From His Employment: Gross Compensation P3,000,000 SSS Contribution 150,000 Phil-Health Contribution 160,000 HDMF Contribution

Reymar A. Gulan, a resident citizen has the following data below.

From His Employment:

Gross Compensation P3,000,000

SSS Contribution 150,000

Phil-Health Contribution 160,000

HDMF Contribution 200,000

Union Dues 350,000

From His Business:

Gross Sales P3,000,000

Cost of Sales 500,000

Salaries Expense 400,000

Rent Expenses 120,000

Utilities Expense 90,000

Depreciation Expense 50,000

Supplies Expenses 10,000

Transportation Expense 15,000

Required:

Q1. Assume the taxpayer only have income from his employment, what is his tax due?

Q2. Assume the taxpayer only have income from his business, what is his total tax due if he chooses flat rate option?

Q3. Assume the taxpayer only have income from his business, what is his total tax due if he chooses the option of paying OPT and income tax? (Use OSD)

Q4. Assume the taxpayer only have income from his business, what is his total tax if he chooses the option of paying OPT and income tax? (Use itemized deduction)

Assumed that He earns compensation and business income at the same time, what is his total tax due if he chooses flat rate option?

Assumed that He earns compensation and business income at the same time, what is his total tax due if he chooses the option of paying OPT and income tax? (Use OSD)

Assumed that He earns compensation and business income at the same time, what is his total tax due if he chooses the option of paying OPT and income tax? (Use itemized deduction)

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