Tax rate and exemption

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Tax rate and exemption

kashaziz
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04-21-2007, 07:08 PM

Hello,

I was wondering what the actual salary would be if take home is 60,000? I have heard that latest tax laws have only one tax exemption and that's medical allowance (10%). So, if somebody wants 60K as take home salary, how much the employer has to show in his books as salary expense?

For example
63,000 total salary
[ 6300 (10% medical - exempted?) ]
2552 (4.5% tax on salary-medical)
----
60448 take home by employee (after tax)

Is that right?

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Tax rate and exemption - by kashaziz - 04-21-2007, 07:08 PM

[No subject] - by zurpk - 04-22-2007, 01:13 AM

[No subject] - by kashaziz - 04-22-2007, 05:05 AM

[No subject] - by zurpk - 04-22-2007, 05:13 PM

[No subject] - by kashaziz - 04-22-2007, 06:21 PM

[No subject] - by zurpk - 04-22-2007, 10:55 PM

[No subject] - by msc286 - 04-23-2007, 07:13 PM

[No subject] - by msc286 - 04-23-2007, 08:24 PM

[No subject] - by zurpk - 04-23-2007, 09:46 PM

[No subject] - by msc286 - 04-24-2007, 03:37 PM

[No subject] - by zurpk - 04-24-2007, 05:44 PM

[No subject] - by kashaziz - 05-02-2007, 06:36 AM

[No subject] - by zurpk - 05-02-2007, 02:13 PM

[No subject] - by zurpk - 05-02-2007, 02:15 PM