The FICA tax rates for the self-employed are: a.6.2% (OASDI) and 2.9% (HI). b.6.2% (OASDI) and 1.45% (HI). c.12.4% (OASDI) and 1.45% (HI). d.10.0% (OASDI) and 1.0% (HI). e.None of these choices are correct
The FICA tax rates for the self-employed are: a.6.2% (OASDI) and 2.9% (HI). b.6.2% (OASDI) and 1.45% (HI). c.12.4% (OASDI) and 1.45% (HI). d.10.0% (OASDI) and 1.0% (HI). e.None of these choices are correct
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 1BCRQ
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. The FICA tax rates for the self-employed are:
a.6.2% (OASDI) and 2.9% (HI).
b.6.2% (OASDI) and 1.45% (HI).
c.12.4% (OASDI) and 1.45% (HI).
d.10.0% (OASDI) and 1.0% (HI).
e.None of these choices are correct.
3. The garnishment that takes priority over all others, except bankruptcy orders is :
a.a government student loan
b.an administrative wage garnishment
c.a child support order
d.a state tax levy
e.a creditor garnishment
4. The FLSA requires that:
a.employers use the continental time system to record all time worked by employees.
b.employees sign each clock card.
c.employers keep records that show the hours each employee worked each workday and each workweek.
d.employers use time cards to record the employees' time worked.
e.None of these choices are correct.
5. Which of the following is a provision of the Fair Labor Standards Act (FLSA)?
a.Tax on net earnings of self-employed individuals
b.Allows discrimination in hiring
c.separate tax on employees and employers
d.sets up minimum wage
e.All of these choices are provisions of the FLSA.
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ISBN:
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Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT