Which of the Following Statements Is True for Entity Owners

question 35

Multiple Choice

Which of the following statements is true for entity owners who pay the self-employment tax and the additional Medicare tax?

• A)Both the self-employment tax and the additional Medicare tax are deductible for AGI in full.
• B)Half of the self-employment tax and all of the additional Medicare tax are deductible for AGI.
• C)Half of the self-employment tax and none of the additional Medicare tax are deductible for AGI.
• D)None of the self-employment tax and none of the additional Medicare tax are deductible for AGI.

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Definitions:

Congress

The legislative branch of the United States government, made up of two chambers: the Senate and the House of Representatives.

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The part of law that governs relationships between individuals and the government, and those relationships between individuals which are of direct concern to society.

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A body of laws that relates to crime and provides regulations for conduct deemed harmful, threatening, or otherwise endangering to the property, health, safety, and moral welfare of people.