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Stells [14]
3 years ago
5

Profits from a sole proprietorship are reported as taxable income and

Business
2 answers:
uranmaximum [27]3 years ago
8 0

Profits from a sole proprietorship are reported as taxable income and (B) are subject to a self-employment tax of approximately 15%.

Explanation:

Sole proprietors are asked to  contribute  to both the Social Security and Medicare systems,this type of  contributions is known as the  "self-employment taxes."

Self-employment taxes are considered equal to the  payroll tax in case of an  employees of a business. Regular employees are said to make their  contributions to the above mentioned  two programs in form of  deductions fr, sole proprietors  make such contributions when the pay their  income tax

The rate of  self-employment tax  is 15.3%, which is further divided as  12.4% of  Social Security  and 2.9% of  Medicare .

Thus we can say that Profits from a sole proprietorship are reported as taxable income and (B) are subject to a self-employment tax of approximately 15%.

velikii [3]3 years ago
8 0

Answer:

Profits from a sole proprietorship are reported as taxable income and...

<h2>B.)</h2>

are subject to a self-employment tax of approximately 15%.

Explanation:

Textbook!!

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Answer:

Cost accounted for= $300,000

Explanation:

Giving the following information:

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The cost to be accounted for is the cost incurred during production and send to finished goods inventory. Therefore, we need to use the following formula:

Cost of the period= beginning inventory + cost added - ending inventory

Cost of the period= 24,600 + 289,000 - 13,600= $300,000

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Answer:

The equal opportunity laws of another country, not the United States is discussed below in details.

Explanation:

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One observation we made this week was that consumer surplus is maximized at a price of zero. We also learned that this is imprac
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Answer:

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Explanation:

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