A worker may prefer to be treated as an independent contractor (rather than an employee) for which of the following reasons:
a. Avoids the cutback adjustment as to business meals.
b. All of the self-employment tax is deductible for income tax purposes.
c. Work-related expenses are not subject to the 2%-of-AGI floor.
d. A Schedule C does not have to be filed.
e. None of these.
c
RATIONALE: Independent contractors are also subject to the cutback adjustment (choice a.). All of the self-employment tax is not deductible (choice b.). Because all work-related expenses are deductions for AGI, the 2%-of-AGI reduction is avoided (choice c.). Work-related expenses will have to be reported on Schedule C (choice d.).
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Tracy, a manager at a busy warehouse, was slow to hire new employees, preferring instead to encourage improvements from his current staff. He carefully watched his other costs too, performing equipment maintenance on a regular basis to improve its lifespan. Tracy would best be described as a(n) _____ manager.
A. efficient B. ethical C. innovative D. effective E. micro
The reason the allowance method of recognizing bad debts is used is primarily because it recognizes the maximum amount of write-off in each period
a. True b. False Indicate whether the statement is true or false
With respect to powerful brand elements, ________ is an extremely efficient means to build brand equity. This element functions as a useful "hook" or "handle" to help consumers grasp what the brand is and what makes it special
A) the tangibility of a product B) a product's shape C) a slogan D) a patent E) a copyright
For 2018 Roberto files his tax return as married filing separately. He has not lived with his wife for over three years. In the current year, by order of the court, he paid her $500 per month for 12 months as separate maintenance. He will be able to deduct $6,000 as alimony for the year.
Answer the following statement true (T) or false (F)