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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Why is it important for payroll accounting purposes to distinguish between an employee and an independent contractor?

To determine

Indicate the reason for considering payroll accounting purpose to distinguish between an employee and an independent contractor is important.

Explanation

Payroll tax:

Payroll tax refers to the tax that are equally contributed by employees and  employer based on the salary and wages of an employee. Payroll tax includes taxes  like federal tax, local income tax, state tax, social security tax and federal and  state unemployment tax...

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