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Serhud [2]
2 years ago
6

true or false: self-employed taxpayers pay the employee portion of the fica tax burden through self-employment taxes, but they a

re exempt from paying the employer portion.
Business
1 answer:
Contact [7]2 years ago
4 0

self-employed taxpayers pay the employee portion of the fica tax burden through self-employment taxes, but they are exempt from paying the employer portion . This statement is false.

Tax payment for self employed?

The practice of working independently rather than for an employer is known as self-employment.If a person chooses to be recognized as a self-employed individual or is generating income for which a tax return must be filed, tax authorities will typically view them as such.The crucial question for tax authorities in the real world is not whether a person is engaged in a business activity—which is still referred to as "trading" when referring to the provision of a service—but rather whether the activity is profitable and, as a result, potentially subject to taxation.To put it another way, the tax authorities generally ignore occasional and hobby- or enthusiast-based economic activity because trading is likely to be ignored if there is no profit.People who work for themselves are typically referred to as sole proprietors (or sole traders), independent contractors, or partners.

to know more about taxation for self employment from the given link

brainly.com/question/28402044

#SPJ4

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For which customer relationship group should a company make continuous relationship investments to​ delight, engage,​ retain, an
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6 0
4 years ago
An item owned by a house hold or business that has a monetary value
xenn [34]
Its an asset of the household or business.
4 0
3 years ago
Read 2 more answers
The following per unit cost information is available: direct materials $36, direct labor $24, variable manufacturing overhead $1
oksian1 [2.3K]

Answer:

Mark−up percentage = 18.75%

Explanation:

Total manufacturing cost= Direct material + Direct labor  + Variable overhead + Fixed overhead

= $36 + $24 + $18 + $40

= $118

Hence, the total manufacturing cost is $118.

Total selling cost = Fixed selling cost + Variable selling cost

Total selling cost = $28 + $14

Total selling cost = $42

Hence, the total selling cost is $42

Total cost = Total Manufacturing cost + Total selling cost

Total cost = $118 + $42

Total cost = $160

Mark−up percentage = ROI / Total cost * 100

Mark−up percentage = $30 / $160 * 100

Mark−up percentage = 0.1875 * 100

Mark−up percentage = 18.75%

7 0
3 years ago
These items are taken from the financial statements of Windsor, Inc. at December 31, 2017.
nordsb [41]

Answer:

To make balance sheet we first have to calculate net income/net profit for the year.

<em><u>Net profit Calculation</u></em>

Service revenue            $ 13,524

Insurance expense        ($     718 )

Depreciation expense   ($ 4,876)

Interest expense           ($ 2,392)

Profit                              $ 5,538

<em><u></u></em>

Balance Sheet

Asset

Non-Current Asset

Land                                                            $56,304                                                            

Buildings                                                     $97,336

Accumulated depreciation—buildings      ($41,952)

Equipment                                                   $75,808

Accumulated depreciation—equipment   ($17,222)

Total non Current Asset                            $170,274

Current Asset

Cash                                                              $10,893

Accounts receivable                                    $11,592

Prepaid insurance                                         $2,944

Current Asset                                               $25,429

Total Asset                                                   $195,703

Equity

Common stock                                              $55,200

Retain Earning (36,801+5,538)                     $42,339

Total Equity                                                   $97,539

Liability

Non-Current Liability

Current Liability

Accounts payable                                           $8,740

Notes payable                                                $86,112

Interest payable                                               $3,312

Total Current Liability                                  $98,164

Total Liability + Equity                                $195,703

5 0
3 years ago
A client presents with chief complaints of unexplained weight gain and back pain from a compression fracture of the vertebrae. O
kozerog [31]

Answer:

The correct answer is Cushing's Syndrome.

Explanation:

Cushing's syndrome, also known as hypercortisolism, is a disease caused by the increase in the hormone cortisol. This excess cortisol can be caused by various causes. The most common, which affects 60 or 70% of patients, is an adenoma in the pituitary gland; This form of the syndrome is specifically known as Cushing's disease. Other causes of Cushing's syndrome are tumors or abnormalities in the adrenal glands, chronic glucocorticoid use or excessive ACTH production caused by a pituitary adenoma. ACTH is the hormone, produced by the pituitary gland, that stimulates the adrenal glands to produce cortisol. This disorder was described by the American neurosurgeon doctor Harvey Cushing, who reported it in 1932.

5 0
3 years ago
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