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nikklg [1K]
1 year ago
12

in 2022, a taxpayer (with $26,500 of employee compensation) was allocated $176,000 of self-employment income. calculate the amou

nt of self-employment tax the taxpayer would owe.
Business
1 answer:
cupoosta [38]1 year ago
3 0

in 2022, a taxpayer (with $26,500 of employee repayment) becomes allotted $176,000 of self-employment income. calculate the amount of self-employment tax the taxpayer might owe $162,536 of net earnings from self-employment ($176,000.

A self-employed man or woman refers to any character who earns their living from any impartial pursuit of a monetary activity, rather than earning a living running for an organization or every other person (an enterprise).

Examples of occupations wherein self-employment is not unusual consist of diverse jobs in the skilled trades, writers, freelancers, artists, lawyers, accountants, financial offerings experts, and buyers.

Self-employment earnings are earnings that arise from the overall performance of private services, but which cannot be categorized as wages due to the fact an organization-employee dating does no longer exist between the payer and the payee.

Learn more about  Self-employment here:

https://brainly.in/question/304865

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6 0
2 years ago
In double-entry accounting, what kinds of transactions are recorded in the left debits column?
yaroslaw [1]
Asset debits are recorded in the left debits column.
6 0
3 years ago
Read 2 more answers
Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left for Fiji, never to return. His
In-s [12.5K]

Answer:

=> Automated Signature Verification System.

=> Tracking of workers' appointment by the personnel department.

Explanation:

Forgery is a kind of fraud in which one changes name, signature or anything pertaining to another person in order to deceive other people. Forgery is a fraud and it is a criminal offence that should be stop in the society. Just as it is in the question above the supervisor is forging Leon’s name in order to be able to collect the money of someone that is no more working.

The two control techniques to prevent or detect this fraud scheme are given below:

=> Automated Signature Verification System : the company should have Automated Signature Verification System for their employees and customers so that with it they can easily detect forgery fraud and the person affected can be able to recover his or her losses.

=> Tracking of workers' appointment by the personnel department: the personnel department should track the appointment of each of their employees in any organization.

Other ways are to Install biometric time cards and make sure payroll record are verified and updated before payment.

4 0
3 years ago
Classify each cost as being either variable or fixed with respect to the number of units produced and sold. Also classify each c
masha68 [24]

Answer:

Explanation:

There are primarily two types of costs, i.e. variable costs and the fixed costs. The variable cost is the cost which changes when the level of production changes, whereas the fixed cost is the cost which remains constant whether the level of output changes or not.

The variable costs also include indirect products, indirect labor and manufacturing equipment, and the fixed costs include taxes and depreciation costs.

The period cost is that cost which is related to the selling and admin expenses plus it is not capitalized.

Whereas the product cost is a mix of direct labor, direct material and the manufacturing overhead

So, the categorization is shown below:

1. Hamburger buns in a Wendy's outlet. = variable and product cost

2. Advertising by a dental office. = Fixed and period cost

3. Apples processed and canned by Del Monte. =  variable and product cost

4. Shipping canned apples from a Del Monte plant to customers. = variable and period cost

5. Insurance on a Bausch & Lomb factory producing contact lenses. = fixed and product cost

6. Insurance on IBM's corporate headquarters.= fixed and period cost

7 0
3 years ago
The business environment consists of several factors that affect a business's ability to be successful and operate profitably.Cr
Damm [24]

Answer:

1. technological

2. Social

3. Competitive

4. Economic and legal

5. Global

Explanation:

environmental forces can be defined as those factors that have the ability to affect or influence how an organization or business operates.

based on the question, 5 environmental forces have been identified with each:

<u>1. Technological</u>

for Booksellers- Boarders, they eventually went bankrupt because of technological advancement that has made books readily available on the internet. so people easily go for these soft copies rather than the hardcopy that they used to.

<u>2. Social</u>

Snap for Seniors- Eve Stern is an entrepreneur who started a business. this is a social environment force that is involved in serving the needs of the elderly.

<u>3. Competitive</u>

blackberry- When the BlackBerry phone system quit working, it affected 70 million customers. Those customers turn to other cellphones which offered the reliable service business customers demand, at a lower price. customers are always likely to go to the side of the competition where prices seem to be fairer.

<u>4. Economic and legal</u>

Jeffries Roofing- Tom Jeffries owns Jefferies Roofing company. In his proposals, Tom describes materials to be used and a price. When the customer signs the bid, it becomes an enforceable contract.

<u>5. Global</u>

WalMart- In China, Walmart has nearly doubled in size and made "Made in China" stickers are visible all over Walmart stores in the United States.

7 0
2 years ago
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