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Author Question: All of the following statements regarding self-employment income/tax are trueexcept: (Read 45 times)

fox

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All of the following statements regarding self-employment income/tax are true except:
◦ The self-employment tax is imposed on net earnings from self-employment when self-employment income is over $400.
◦ Self-employment tax is computed separately for married individuals filing joint returns.
◦ Independent contractors are subject to self-employment tax on the amount of net earnings from the self-employment activity.
◦ 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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Marked as best answer by fox on Sep 13, 2020

epscape

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fox

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


bdobbins

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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