The Ceiling Amounts and Percentages for 2010 for the Two

question 24

Multiple Choice

The ceiling amounts and percentages for 2010 for the two portions of the self-employment tax are: Social Security portion Medicare portion

• A)$102,000;12.4% Unlimited;2.9%
• B)$102,000;15.3% Unlimited;15.3%
• C)$106,800;12.4% Unlimited;2.9%
• D)$106,800;15.3% Unlimited;15.3%
• E)None of the above.

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Definitions:

Proving

The process of establishing the truth or validity of something through evidence or argument.

Vesting

The process by which an individual earns the right to receive full benefits from a pension plan or stock option over time.

Purpose

The reason for which something is done or created or for which something exists.

Creditor Beneficiary

A third party that benefits from a contract between two other parties, particularly when one party promises to pay a debt owed to the creditor beneficiary by the other party.