Harvy C. Cerda
Richelle C. Cerda
BSA 4-1
1 1
2 0
3 0
4 0
5 1
6 0
7 1
8 1
9 0
10 0
11 1
12 0
13 1
14 1
15 1
16 1
17 0
18 1
19 1
20 1
1
Interest on corporate bond 1,000
Salary 12,000
Tip 3,000
Lotto Winning 3,000
Jueteng 8,000
Stolen from mother's purse 3,000
Total Taxable Income 30,000
2. No, because in this case, the convenience of employer rule has been applied.
3. No, because the value of the living quarter is part of Kulas' taxable compensation income.
4
a. No, because de minimis benefits are not subject to income tax as well as withholding tax on compensating incom
b. No, because the rice allowance is considered as de minimis benefit which is exempted from the fringe benefit tax
5. P 0.00, none of the items were qualified to be part of gross income of Karen Leon.
6
a. No, because there is a condition that he has to comply
b. No, because there is a condition that he has to comply
c. Yes, if it is part of compensation income to employees
1 Managerial
2 Managerial
3 Supervisory
4 Rank and File
5 Managerial
6 Managerial
7 Supervisory
8 Supervisory
9 Rank and File
10 Rank and File
11 Rank and File
12 Managerial
13 Managerial
14 Supervisory
15 Rank and File
4. A
Fringe Benefit Expense 147500
1 C
2 C
3 B
4 D
5 D
6 A
7 B
8 B
9 D
10 C
3. B Salary of 14000