Professional Income

This topic has no further subtopics. Explore its practice questions below.

1. Which receipt most clearly arises from independent professional practice rather than employment? Multiple Choice Easy
2. Does a professional license automatically make every amount earned by its holder professional-practice income? Multiple Choice Easy
3. For a qualifying individual professional, is the statutory 8% treatment necessarily compulsory merely because the indiv… Multiple Choice Easy
4. A purely self-employed professional validly elects the 8% option, meets all eligibility requirements and has P1,000,000… Multiple Choice Medium
5. A client properly withholds creditable income tax from an independent professional’s fee. What is the basic income-tax … Multiple Choice Medium
6. A doctor receives compensation from an established employment and P1,000,000 of fees from a separate qualifying practic… Multiple Choice Hard
7. An independent engineer elects the 8% option validly for the year and has qualifying gross fees. She also incurs ordina… Multiple Choice Hard
8. Explain how a professional’s salary and independent client fees differ for income-tax classification. Essay Medium
9. Compare the P250,000 treatment under the valid 8% option for a purely self-employed professional and a mixed-income pro… Essay Medium
10. Why must a professional distinguish creditable withholding from final tax and from a deductible expense? Essay Medium
11. Under Section 26, who bears income tax on a general professional partnership’s distributive net income? Multiple Choice Easy
12. Is the professional category in RR 8-2018 limited solely to doctors and lawyers? Multiple Choice Easy