Please Define the Following Key Terms

question 24

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Encyclopedia

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Definitions:

Income Limit

The maximum amount of income that allows for eligibility for certain tax benefits or programs.

Self-Employed

Individuals who work for themselves, not as employees of someone else, and are responsible for their own taxes and business arrangements.

Self-Employment Tax

Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves, comparable to the payroll tax paid by employers and employees.

Consulting Income

Earnings derived from providing expert advice to individuals or organizations in a specific field.