One of the Benefits That an Organization Gets by Using

question 65

Multiple Choice

One of the benefits that an organization gets by using independent contractors is that independent contractors __________.*

• A) are less expensive than full time employees
• B) get no benefits
• C) are better workers
• D) are always available

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Definitions:

Monthly Schedule Depositors

Taxpayers who are required to deposit certain types of taxes on a monthly basis.

Semiweekly Schedule Depositors

Employers who are required to deposit employment taxes semiweekly based on the schedule determined by the IRS.

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act on both employees and employers to fund Social Security and Medicare.

Federal Withholding

The process by which an employer withholds a portion of an employee's income to cover federal income taxes.