In 2019,Mike Elfred Received a $165,000 Salary from His Employer

question 66

Multiple Choice

In 2019,Mike Elfred received a $165,000 salary from his employer and generated $39,000 net earnings from self-employment from his small business.Which of the following statements is true?

• A)Mike does not owe any self-employment tax because his salary exceeded the 2019 base amount ($132,900)for federal employment tax.
• B)Mike owes both the Medicare and Social Security tax portions of self-employment tax on his $39,000 earnings from his small business.
• C)Mike owes Medicare tax but not Social Security tax on his $39,000 earnings from his small business.
• D)Mike owes Social Security tax but not Medicare tax on his $39,000 earnings from his small business.

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Definitions:

Neo-Freudians

A group of psychologists who, while inspired by Freud's theories, extended his ideas to include social and cultural factors in personality development and dynamics.

Psychoanalysis

A method of psychological therapy and analysis developed by Sigmund Freud, which emphasizes unconscious mental processes and childhood experiences as determinants of psychological health.

Freudian Theory

A set of psychoanalytic theories developed by Sigmund Freud that emphasizes unconscious motivations and conflicts as determinants of human behavior.

Modern Psychoanalytic Theory

An evolution of Freudian psychoanalysis that incorporates newer research and concepts, focusing on how early relationships shape the unconscious mind and influence behavior.