All of the Following Statements Regarding Self-Employment Income/tax Are True

question 34

Multiple Choice

All of the following statements regarding self-employment income/tax are true except:

• A)The self-employment tax is imposed on net earnings from self-employment over $400.
• B)Self-employment tax is computed separately for married individuals filing joint returns.
• C)Independent contractors are subject to self-employment tax on the amount of net earnings from the self-employment activity.
• D)Employees who have a business in addition to their regular employment are not subject to the self-employment tax since FICA is withheld on their wages.

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Definitions:

Human Resource Planning

The process organizations use to ensure they have the right number and types of people, at the right time, to effectively execute their business strategy.

Strategic Management

The process of formulating and implementing strategies.

Management by Objectives

Management by Objectives is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed upon by both management and employees.

Identifying Job Factors

The process of determining the essential tasks, skills, knowledge, and responsibilities associated with a job, which helps in creating accurate job descriptions and assessments.