Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your friend Ahmed just learned that you finished a tax class, so he came to you to ask you about how to handle his situation.

Your friend Ahmed just learned that you finished a tax class, so he came to you to ask you about how to handle his situation. Ahmed is a governmental employee whose salary is 10,000 per year. This amount includes a basic salary of 6,000 Egyptian Pounds. Variable salary of 4,000 Egyptian pounds. He pays 200 Egyptian Pounds as social insurance.

Ahmed has just accepted a new job, in addition to his current job, that pays him 12,000 per month

Required:

Calculate the total tax of Ahmed per month? Assume that you are calculating the tax for the current year 2020. Ahmed will start the new additional job on July 1st 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

5th edition

978-0077924379, 77924371, 978-0078025396, 78025397, 978-0077425654, 77425650, 978-0077667061

More Books

Students also viewed these Accounting questions

Question

How can perpetuity have a finite value?

Answered: 1 week ago

Question

Describe the four entries that close the temporary accounts. LO5

Answered: 1 week ago

Question

To what account is the income summary account closed? LO5

Answered: 1 week ago