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For the following problem, assume the taxable year is 2022. Greg Company agreed to pay Blayne $45,000 compensation for services performed for the company. Compare
For the following problem, assume the taxable year is 2022.
Greg Company agreed to pay Blayne $45,000 compensation for services performed for the company.
Compare the income tax consequences to Greg and Blayne if Blayne is an employee or an independent contractor. Compare the payroll tax consequences to Greg and Blayne if Blayne is an employee or an independent contractor. Compare the income tax payment requirements to Blayne if Blayne is an employee or an independent contractor.
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