Which of the following statements regarding tax payments is true?
A. Sole proprietors are not required to pay income tax or self-employment tax until the return is filed.
B. Sole proprietors must make quarterly estimated payments of income tax and self-employment tax.
C. Sole proprietors must make quarterly estimated payments of income tax, but self-employment tax is not due until the return is filed.
D. Sole proprietors must make quarterly estimated payments of self-employment tax, but income tax is not due until the return is filed.
Answer: B
You might also like to view...
Which of the following statements is true about mobile apps?
A) They are advertisements that avoid the use of animations. B) They are text messages sent in response to promotions. C) They are software used to control basic functions such as texting. D) They are programs designed to enhance the performance of a cell phone's processor. E) They are software programs that can be loaded on to smart phones.
Photographs convey realism and ________________
a. truth b. authenticity c. accuracy d. objectivism
You have just put $500 in an investment that offers an 8% annual yield, with interest compounded annually. Your total interest earned after two years will be
A) $83.20. B) $80.00. C) $44.60. D) $40.00.
The "bubble concept" is used by the EPA to view an entire plant as one source to evaluate emissions
a. True b. False Indicate whether the statement is true or false