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

question 66

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 when self-employment income is 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:

Analytical Work

Tasks that involve examination, analysis, and synthesis of data or information to solve problems or make decisions.

Quiet Time

A period of silence or reduced activity designated for reflection, meditation, or rest.

Personal Productivity

The effectiveness and efficiency with which an individual can complete tasks and achieve goals on a personal level.

Beeps And Alerts

Sounds or notifications typically made by electronic devices intended to capture attention or signal information to the user, frequently discussed in the context of their effects on concentration and stress levels.