A Self-Employed Individual Has Earnings from His Business of $300,000

question 2

True/False

A self-employed individual has earnings from his business of $300,000. For the earnings in excess of the $117,000,he will only have to pay the 2.9% Medicare tax.

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Definitions:

Incisors

The front teeth in mammals that are primarily used for cutting food.

Bicuspids

Also known as premolars, these are types of teeth located between the canines and molars, used for grinding food.

Molars

Molars are large, flat teeth at the back of the mouth, used primarily for grinding food.

Permanent Set

A long-lasting alteration of form or position, especially in hair styling, or a condition of being fixed in a particular stance or position.