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QUESTION 9 Deductions that appear on Schedule Care FOR AGI. Self-employed individuals are allowed to deduct certain additional expenses as Deductions FOR AGI. These appear

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QUESTION 9 Deductions that appear on Schedule Care FOR AGI. Self-employed individuals are allowed to deduct certain additional expenses as Deductions FOR AGI. These appear on Schedule 1 and include which of the following: a medical expenses Ob. 100% of medical insurance for the taxpayer, spouse and dependants Oc. SEP contribution d. one-half of Self Employment tax Oe. Answers b, c and d above 0.1 points Save Answer QUESTION 10 Business start-up costs are amounts paid or incurred for creating an active trade or business or investigating the creation or acquisition of an active trade or business. Which publication number provides guidance on this topic? 0.1 points Save Answer QUESTION 11 Self-employment tax consists of Social Security and Medicare taxes. When you are an employee, your employer pays half and you pay half. When you're self-employed, however, you pay all of it. True or False: If your net profit from self-employment is less than $600, then you do not have to file Form 1040, Schedule SE, Self-Employment Tax. True False 0.05 points Save Answer QUESTION 12 Identify the INCORRECT statement below: a. You generally have to make estimated tax payments if you expect to owe taxes, including self- employment tax, of $800 or more when you file your return. b. For more information on estimated tax, see IRS Publication 505. O c . Form 1040 ES is the form used to remit estimated tax payments. d. Self-employment tax consists of Social Security and Medicare

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