Tax Advantages of Being Self-Employed (Rather Than Being an Employee)

question 88

Multiple Choice

Tax advantages of being self-employed (rather than being an employee) include:

• A) The self-employment tax is lower than the Social Security tax.
• B) The overall limitation (50%) on meals does not apply.
• C) An office in the home deduction (for AGI) is available.
• D) Job-related expenses are deductions for AGI.
• E) Both c. and d. are advantages.

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Definitions:

Organizational Culture

A set of shared values, beliefs, and practices that characterizes an organization and guides its members' behaviors.

Cultural Values

The core principles and ideals upon which an entire community exists and functions, shaping behavior and setting standards for what is important.

Subcultures

Groups within a larger culture that have their own distinct values, behaviors, and traditions.

Dominant Values

The core principles and standards that are most important and widely upheld within a society, organization, or group.