Question
If an employer withholds taxes from an employee, in general, when are these taxes treated as paid to the IRS? A. As the employee requests
If an employer withholds taxes from an employee, in general, when are these taxes treated as paid to the IRS?
A. As the employee requests on his/her W-4 form.
B. As withheld.
C. Evenly throughout the year.
D. On April 15.
Dan is a single, self-employed carpenter who earned $120,000 this past year in self-employment income. Dan paid the following expenses this year. Which of the expenses are deductible for AGI.
1. The cost of health insurance.
2. The employer portion of self-employment tax paid
3. Penalty on early withdrawal of funds from a certificate of deposit
A. All of the choices are deductible for AGI.
B. Numbers 1 and 2 only.
C. Numbers 2 and 3 only.
D. None of the choices is deductible for AGI.
E. Numbers 1 and 3 only.
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