Multiple Choice
Which of the following statements regarding independent contractors and employees is true (ignore temporary provisions) ?
A) Independent contractors pay Social Security and Medicare tax of 15.3%.
B) Employees must pay unemployment taxes.
C) Independent contractors and employees pay the same Social Security and Medicare tax rates.
D) Independent contractors deduct their business expenses "from AGI."
Correct Answer:
Verified
Correct Answer:
Verified
Q24: Employees receiving nonqualified stock options recognize ordinary
Q37: Unreimbursed employee business expenses are deductions for
Q45: Under a qualified pension plan,the employer's deduction
Q49: Ron obtained a new job and moved
Q50: In which of the following situations is
Q51: Frank is a self-employed CPA whose 2014
Q55: The maximum tax deductible contribution to a
Q56: Tia is a 52-year-old an unmarried taxpayer
Q58: Tessa is a self-employed CPA whose 2014
Q59: A sole proprietor establishes a Keogh plan.The