The Ceiling Amounts and Percentages for 2017 for the Two

question 93

Multiple Choice

The ceiling amounts and percentages for 2017 for the two portions of the self-employment tax are: ​
Social Security portion Medicare portion

• A)$127,200; 12.4% Unlimited; 2.9%
• B)$127,200; 15.3% Unlimited; 2.9%
• C)$118,500; 12.4% Unlimited; 2.9%
• D)$118,500; 2.9% Unlimited; 13.3%

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Definitions:

Relatives

Individuals who are connected by blood or marriage and may have legal obligations or strong emotional ties to each other.

Trade

The action of buying, selling, or exchanging goods and services between people or countries.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) to make something for consumption (output).

Commodity Money

Money that has intrinsic value and can be used for purposes other than as a medium of exchange, such as gold or silver.