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Solve for the taxable income and tax due for the year

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Question - Solve for the taxable income and tax due for the year - Angelina is a full-time and regular employee of XYZ Company. The following items were reflected in his records for the taxable year:

Salary (35,000/month for 12 mos.) 420,000

Overtime Pay 15,000

Yearly Laundry Allowance 5,000

Rice allowance (3,500 x 12 mos.) 42,000

Clothing allowance 6,000

Productivity Bonus 50,000

Christmas Bonus bonus and 13th month pay 70,000

Mandatory Contributions:

SSS Contribution (900 x 12 mos.) 10,800

Philhealth Contribution (600 x 12 mos.) 7,200

Pag-Ibig Contribution (100 x 12) 1,200

Solve for the taxable income and tax due for the year.

Reference no: EM133079826

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