0u|z Corp|eled

Crealed W|lr 8urveydaddy, creale your oWr or||re qu|z |r jusl 2 r|rules.
6reate Your 0wn 0u|z

You scored 07!
3orry, oul you d|d rol pass lre qu|z.
0.1 These are the requ|s|tes for w|thho|d|ng tax on wages, except one.
lrere rusl oe ar erp|oyer-erp|oyee re|al|orsr|p
lrere rusl oe payrerl ol Wages lor serv|ces rerdered

the |ncome must be earned from sources w|th|n and w|thout the Ph|||pp|nes
lrere rusl oe a payro|| per|od

0.2 0ec|de wh|ch ret|rement benef|t among the fo||ow|ng ret|rees |s not taxab|e.
Al lre l|re ol rel|rererl, X |s 13 years ol age ard ras rerdered 15 years ol serv|ce
Al lre l|re ol rel|rererl, X |s 52 years o|d ard rad rerdered 8 years ol serv|ce

At the t|me of ret|rement, X |s 54 years o|d and has rendered 20 years of serv|ce
Al lre l|re ol rel|rererl, X |s 51 years o|d ard ras rerdered 20 years ol serv|ce, oul gralu|ly oerel|ls Were pre-lerr|raled ard lre casr
equ|va|erl Was re|eased lo r|r upor ava||rerl ol opl|ora| rel|rererl

0.3 The genera| ru|e |s that stock d|v|dends are exempt from taxes. The fo||ow|ng are the except|ons to th|s ru|e, except what?
|l lre |rleresl ol lre sloc|ro|der |r lre corporal|or ras oeer a|lered oy groWlr lrereol
Wrer Wral Was rece|ved |s a rederpl|or ol sloc| d|v|derd
|l lre corporal|or |ssues d|llererl ||rds ol srares ol sloc|s lo |ls srarero|ders

the rec|p|ent |s a stockho|der of the dec|ar|ng corporat|on

0.4 |t perta|ns to the |ncome and corpus of the trust that does not revert to the grantor, but accumu|ated and he|d for
d|str|but|on to the benef|c|ar|es.

0rd|rary Trusl
Revocao|e Trusl
|rrevocab|e Trust
rp|oyee's Trusl

0.5 There |s no partnersh|p created |n what |nstance?
when the |ncome of the co-ownersh|p |s |nvested |n bus|ness or other |ncome produc|ng propert|es
Wrer a lalrer ard sor purcrased a |ol ard ou||d|rg, erlrusled lre adr|r|slral|or ol lre ou||d|rg lo ar adr|r|slralor ard d|v|ded equa||y lre rel
|rcore
Wrer co-oWrers p|aced lre corror properl|es ard |rcore lrerol urder a corror raragererl W|lroul aclua| d|slr|oul|or rolW|lrslard|rg
lre order ol parl|l|or

Wrer re|rs oWr |rrer|led properl|es Wr|cr produce |rcore W|lroul lre|r corlr|oul|or or |rveslrerl ol add|l|ora| cap|la| lo |rcrease or expard
lre |rrer|led properl|es, oul rere|y corl|rue lre ded|cal|or ol lre properly lo lre use lo Wr|cr |l rad oeer pul up oy lre|r predecessors

0. |dent|fy the |tem wh|ch |s not exc|uded from gross |ncome.
corpersal|or lor |rjur|es or s|c|ress ard proceeds ol ||le |rsurarce po||c|es pa|d lo re|rs upor dealr ol lre |rsured

damages rece|ved or recovered by su|t on account of |njur|es or s|ckness, and separat|on pay rece|ved by an off|c|a| or emp|oyee for
any cause
ga|rs lror sa|e ol oords, deoerlures ard olrer cerl|l|cal|or ol |rdeoledress, ard ga|rs lror rederpl|or ol srares |r rulua| lurds
|rcore ard ga|rs suojecl lo l|ra| W|lrro|d|rg lax as We|| as arourl rece|ved oy lre |rsured as relurr ol prer|urs

0.7 Th|s |s an examp|e of expenses that are non-deduct|b|e from gross |ncome:

arourl sperl lor po||l|ca| carpa|gr, carpa|gr lurds ard doral|ors lo po||l|ca| card|dales or parl|es reg|slered W|lr C0VC
arourl sperl lor lre resloral|or ol properly or ra||rg good lre exrausl|or lrereol Wrere ar a||oWarce |s or ras oeer rade
prer|urs pa|d oy corporal|or ol |rsurarce cover|rg lre ||le ol erp|oyees ard oll|cers Wrelrer or rol add|l|ora| oerel|c|ar|es Were rared
persona|, ||v|ng and fam||y expenses as we|| as the amount spent to |mprove the property to |ncrease |ts va|ue or pro|ong |ts ||fe

0.8 |t refers to those payments wh|ch are norma| |n re|at|on to the bus|ness of the taxpayer, or one genera||y |ncurred a|so by
taxpayers |n the same or s|m||ar ||ne of bus|ness or trade.
Cap|la| xperd|lures
Reverue xperd|lures

0rd|nary Expenses
ecessary xperses

0.9 wh|ch of these |tems may not be deducted as an |nterest expense?
|rleresl pa|d oy a corporale laxpayer Wro |s ||ao|e or rorlgage upor rea| properly ol Wr|cr lre sa|d corporal|or |s lre |ega| or equ|lao|e oWrer
ever lrougr |l |s ror d|recl|y ||ao|e lor |rdeoledress

|rleresl ca|cu|aled lor cosl-|eep|rg or olrer purposes or accourl ol cap|la| or surp|us |rvesled |r lre ous|ress Wr|cr does rol represerl a
crarge ar|s|rg urder ar |rleresl-oear|rg oo||gal|or
|rleresl or depos|ls pa|d oy oar|s or lrusl corpar|es lo depos|lors, |l |l |s sroWr lral lre lax or sucr |rleresl Was W|lrre|d ard pa|d
|nterest on taxes pa|d on def|c|ency or de||nquency, prov|ded the tax |s deduct|b|e tax except on |ncome tax

0.10 wh|ch of these sha|| be treated as a deduct|b|e tax from gross |ncome?
3pec|a| assessrerl or |ev|es or properl|es
Fore|gr |rcore laxes |rposed oy aulror|ly ol a lore|gr courlry

Automob||e reg|strat|on fees
Taxes Wr|cr are l|ra| |r ralure