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    Business
  3. Study Set
    Federal Taxation
  4. Exam
    Exam 14: Special Tax Computation Methods, tax Credits, and Payment of Tax
  5. Question
    A Self-Employed Individual Has Earnings from His Business of $300,000
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A Self-Employed Individual Has Earnings from His Business of $300,000

Question 19

Question 19

True/False

A self-employed individual has earnings from his business of $300,000.For the earnings in excess of the $113,700,he will only have to pay the 2.9% Medicare tax.

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