Remaining Time: 1 hour, 52 minutes, 17 seconds. Question Completion Status QUESTIONS During the current year, H had revenues from self-employment of $114,000 and associated expenses of $44,000. H also had wages of $62,000 from employer X. Employer X withheld and paid the appropriate amount of FICA taxes on H's wages. Assume that the appropriate social security income ceiling for the year is $120,000 and that the self-employed FICA rates are 12.4% for social security and 2.9% for Medicare Compute H's self-employment tax liability for the current year. Round final answers to nearest dollar. TTT Artat T. 3 (1200 v Path Words: QUESTION 6 Question Completion Status: QUESTION 6 Explain the meaning of "jointly and severally liable" and relate it to filing married jointly versus married filing separately. TTT Arial 3(121) T.EE 225 Bi Path Words: 0 QUESTION 7 A qualifying abandoned spouse may file head of household. True False QUESTIONS Remaining Time: 1 hour, 51 minutes, 48 seconds. * Question Completion Status: QUESTION 8 For tax purposes, the cash method of accounting is subject to which of the following doctrines? Constructive receipt doctrine All events test doctrine Return of capital doctrine Assignment of income doctrine QUESTION 9 Which of the following is not true regarding deductions from adjusted gross income (AGI)? A dependent's standard deduction amount may be limited. The standard deduction is based generally on the taxpayer's filing status. There is an additional amount added to the standard deduction for being blind. Married couples filing separately are not allowed to itemize their deductions, QUESTION 10 Click Save and Submit to save and submit. Click Save All Answers to save all ans. Remaining Time: 1 hour, 52 minutes, 17 seconds. Question Completion Status QUESTIONS During the current year, H had revenues from self-employment of $114,000 and associated expenses of $44,000. H also had wages of $62,000 from employer X. Employer X withheld and paid the appropriate amount of FICA taxes on H's wages. Assume that the appropriate social security income ceiling for the year is $120,000 and that the self-employed FICA rates are 12.4% for social security and 2.9% for Medicare Compute H's self-employment tax liability for the current year. Round final answers to nearest dollar. TTT Artat T. 3 (1200 v Path Words: QUESTION 6 Question Completion Status: QUESTION 6 Explain the meaning of "jointly and severally liable" and relate it to filing married jointly versus married filing separately. TTT Arial 3(121) T.EE 225 Bi Path Words: 0 QUESTION 7 A qualifying abandoned spouse may file head of household. True False QUESTIONS Remaining Time: 1 hour, 51 minutes, 48 seconds. * Question Completion Status: QUESTION 8 For tax purposes, the cash method of accounting is subject to which of the following doctrines? Constructive receipt doctrine All events test doctrine Return of capital doctrine Assignment of income doctrine QUESTION 9 Which of the following is not true regarding deductions from adjusted gross income (AGI)? A dependent's standard deduction amount may be limited. The standard deduction is based generally on the taxpayer's filing status. There is an additional amount added to the standard deduction for being blind. Married couples filing separately are not allowed to itemize their deductions, QUESTION 10 Click Save and Submit to save and submit. Click Save All Answers to save all ans
