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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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If the number of unemployed persons in a country equals 24 million, the number of employed persons equals 8 million, and the num
antiseptic1488 [7]

Full Question:

If the number of unemployed persons in a country equals 24 million, the number of employed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals:

a. 18%

b. 25%

c. 32%

d. 75%

Answer:

The correct answer is D) 75%                                                                            

Explanation:

Step 1:

The formula for unemployment rate is:

Unemployment Rate = (Number of Unemployed Persons / Labor Force) x 100

<u>The labor force is the sum of unemployed and employed persons</u>. By dividing the number of individuals whom are unemployed by labor force, you'll find the labor force participation, or unemployment rate.

Step 2

Therefore:

The labor force is arrived at by adding:

24 Million and 8 Million.

(24,000,000 + 8,000,000) = 32 Million

Step 3:

If number of unemployed persons is given as 24 Million, therefore

Unemployment rate = (24,000,000/32,000,000) x 100

Unemployment rate =   75%

Cheers!

8 0
3 years ago
Which of the following is a disadvantage of being a private limited company?
inysia [295]
The most likely answer here is B
6 0
3 years ago
What is one of the first decisions an entrepreneur must make?
Darya [45]

What kind of business organization will best serve his or her interests.

All of the other decisions are very important, but unless you know what type of organization you want it will be hard to make other more important decisions about the business.

6 0
3 years ago
Read 2 more answers
Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100
olasank [31]

Answer:

Ramon’s basis in the stock he receives in his corporation is $84,000

Explanation:

The computation of Ramon’s basis in the stock received in his corporation would be $84,000 as this amount reflect the adjusted basis of the assets transferred to the corporation.  

These assets include inventory, building, and land. So, the total amount of the total assets would be received i.e based on an adjusted basis, not the fair market value  

6 0
3 years ago
To calculate your return on a stock: If you bought a stock at $80 and earned a $3.00 dividend over the year and at the end of th
grandymaker [24]
New value: $87
new-orig= $7
7/80= 0.0875=87.5%
7 0
3 years ago
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