In describing FICA taxes for self-employed taxpayers, which (if any) of the foll

Question

In describing FICA taxes for self-employed taxpayers, which (if any) of the following statements is correct?

a. Individuals with net earnings of $1000 or more from self-employment are subject to the tax.

b. Self-employed taxpayers pay only the employer’s one-half portion of the tax.

c. Self-employed taxpayers are allowed an income tax deduction for 50% of the self-employment tax paid.

d. Self-employed taxpayers are allowed a deduction from net earnings from self-employment at the full self-employment rate in determining the self-employment tax.

e. none of the above

Explanation / Answer

.

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.