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

question 34

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 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:

Erroneous Stereotypes

Inaccurate and oversimplified beliefs or generalizations about a group of people.

LGBT Community

A term that collectively refers to lesbian, gay, bisexual, and transgender people, emphasizing a sense of shared identity and community.

Population

A group of individuals, often humans, living in a specific area or belonging to a specific category, such as an age group or ethnic group, that is studied in demographics, sociology, and various branches of biology.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, sex, or disability.