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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 58
The deduction for half of the self-employment tax is: a. Based on a total of 7.65% of FICA taxes.
B) Based on the gross earnings of the business.
C) Based on filing status.
D) Based on the net earnings of the business.
B) Based on the gross earnings of the business.
C) Based on filing status.
D) Based on the net earnings of the business.
Explanation
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a.The FICA tax includes the social secur...
Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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