Sarah has the following items of income: Philippines 200,000 100,000 400,000 300,000 30,000 Business income Professional...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sarah has the following items of income: Philippines 200,000 100,000 400,000 300,000 30,000 Business income Professional fees Compensation income Rent income Interest income Colombia 100,000 50,000 200,000 40,000 1. Assuming Sarah is a resident citizen, compute the total income subject to Philippine income tax. 2. Assuming Sarah is a resident alien, compute the total income subject to Philippine income tax. 3. Assuming Sarah is a resident corporation, with the exclusion of compensation income and professional fees, compute the total income subject to Philippine income tax. 4. Assuming Sarah is a domestic corporation, with the exclusion of compensation income and professional fees, compute the total income subject to Philippine income tax. Sarah has the following items of income: Philippines 200,000 100,000 400,000 300,000 30,000 Business income Professional fees Compensation income Rent income Interest income Colombia 100,000 50,000 200,000 40,000 1. Assuming Sarah is a resident citizen, compute the total income subject to Philippine income tax. 2. Assuming Sarah is a resident alien, compute the total income subject to Philippine income tax. 3. Assuming Sarah is a resident corporation, with the exclusion of compensation income and professional fees, compute the total income subject to Philippine income tax. 4. Assuming Sarah is a domestic corporation, with the exclusion of compensation income and professional fees, compute the total income subject to Philippine income tax.
Expert Answer:
Answer rating: 100% (QA)
To solve the income tax computation for Sarahs different scenarios we need to calculate the total in... View the full answer
Related Book For
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date:
Students also viewed these accounting questions
-
Based on the provided graph and the answer that the D95 value of Sample A is 2.5mm, how much of Sample A is finer than this value
-
Follow the started java code below the directions The starter code contains 2-3 formatting errors; all code (including code beyond the section that students are required to complete to make the...
-
What factors should businesses take into account when choosing team members and defining their duties when creating a crisis management team and detailed crisis management plan? What are some ways...
-
As a preliminary to requesting budget estimates of sales, costs, and expenses for the fiscal year beginning January 1, 2009, the following tentative trial balance as of December 31, 2008, is prepared...
-
The following information relates to Drexler Inc.'s Year 3 financials: Direct labor ................................... $420,000 Direct materials ...............................210,000 Variable...
-
Tom quits his job with $150,000 in his employers qualified retirement plan. Since he is broke, Tom instructs the plan trustee to pay him the balance in his retirement account. How much will Tom...
-
What is the cost of reserves equal to? And the cost of depreciation?
-
Texas Instruments primarily develops and manufactures semiconductors for use in technology-based products for various industries. The manufacturing process is capital-intensive and subject to...
-
QUESTION 3-12 marks Using WORKSHEET that is provided, indicate for each of the statements whether it is True (T) or False (F) according to NZ IAS 12. If the statement is false, rewrite the statement...
-
While self-reflection is an essential leadership behavior, you need to establish whether your view of yourself is consistent with those who you aspire to influence. A 360-degree perspective allows...
-
QUESTION:1. WHAT WERE THE TOTAL MANUFACTURING COSTS FOR JOB494.2. THE MACHINING DEPARTMENT WAS ______ BY _______ ANDTHE ASSEMBLY DEPARTMENT WAS _______ BY _________.PLEASE ANSWER THE QUESTIONS AB...
-
A force F of magnitude 5.00 units acts on an object at the origin in a direction = 31.0 above the positive x-axis. (See the figure below.) A second force F of magnitude 5.00 units acts on the object...
-
Write a program to check whether a given sentence (ending with .) is a palindrome or not. The checking shall be carried out in a function to be called is Palindrome that takes as input the input...
-
Assume you have forecast a firm's free cash flows (FCFS) in the first three years (see the below table). You believe that the firm's annual FCF will declines at a rate of 2% in perpetuity after Year...
-
Leadership is an evolving journey, and its effectiveness greatly depends on the chosen leadership theory and one's ability to adapt and grow as a leader. The paper presents a personal leadership...
-
Assume the following information: Direct materials $ 7 0 , 0 0 0 Direct labor $ 4 0 , 0 0 0 Variable manufacturing overhead $ 1 5 , 0 0 0 Fixed manufacturing overhead 2 5 , 0 0 0 Total manufacturing...
-
Discuss the Screen for Child Anxiety-Related Emotional Disorders (SCARED)screening tool: introduce the tool, appropriate pediatric age for the tool, scoring, and management of abnormal scores....
-
Which one of the following anhydrous chloride is not obtained on direct heating of its hydrated chloride? (A) BaCl2 (B) CaClz (C) MgCl2 (D) SrCl2
-
Alice and Barry own all the shares of Alpha Corporation. For the current year, the corporation reports the following income and expenses: During the current year, Alpha Corporation paid $50,000 in...
-
General Corporation owns equipment which cost $70,000 and has a $44,000 adjusted basis. General exchanges the equipment for other equipment ($42,000 FMV) and marketable securities ($30,000 FMV)....
-
Bird Corporation purchases machinery for $3 million and places it in service in June 2014. Installation costs are $75,000. The machine replaces an old machine that Bird purchased several years ago,...
-
The statements of financial position for Maxi Ltd and Mini Ltd are set out below. On 1 April last year, Maxi Ltd bought 1,500,000 shares of Mini Ltd for a total consideration of 5 million. At that...
-
A year ago Pod Ltd bought 225,000 1 fully paid ordinary shares of Pea Ltd for a consideration of 500,000. Pea Ltds share capital and share premium were each the same as at todays date. Simplified...
-
It has been suggested that too much information might be as bad as too little information for users of annual reports. Explain.
Study smarter with the SolutionInn App