Which of the following statements regarding tax payments is true?
A) Sole proprietors must make quarterly estimated payments of income tax, but self-employment tax is not due until the return is filed.
B) Sole proprietors must make quarterly estimated payments of self-employment tax, but income tax is not due until the return is filed.
C) Sole proprietors must make quarterly estimated payments of income tax and self-employment tax.
D) Sole proprietors are not required to pay income tax or self-employment tax until the return is filed.
Correct Answer:
Verified
Q102: Mr. and Mrs. Reece could not complete
Q103: Mr. and Mrs. King's regular tax liability
Q104: Ms. Dorley's regular tax liability on her
Q105: Last year, Mr. Corbett's AGI was $141,000,
Q106: Which of the following statements concerning extensions
Q107: Eileen, a single individual, had $125,000 taxable
Q108: Mr. and Mrs. Bennett file a joint
Q109: Which of the following statements concerning extensions
Q111: Last year, Mr. Tyker's AGI was $182,800,
Q112: Ms. Kilo's regular income tax before credits
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents