Employee Status Is Always Better Than Independent Contractor Status for a Taxpayer

question 92

True/False

Employee status is always better than independent contractor status for a taxpayer because the employee is responsible for paying the employee portion of the FICA taxes.

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Definitions:

Sales Response Function

A model that predicts the sales or market share response of a product or service to marketing effort or investment.

Contribution Margin

The amount by which sales revenue exceeds variable costs. It is used to cover fixed costs and generate profit.

Positive Deviation

An instance where performance or results exceed the expected standards or averages, often interpreted as an improvement or success.

SWOT Analysis

A strategic planning technique used to identify an organization's Strengths, Weaknesses, Opportunities, and Threats.