Question
Taxation problem: Which of the following is true regarding how partners treat guaranteed payments they receive from a partnership? Guaranteed payments received for services rendered
Taxation problem:
Which of the following is true regarding how partners treat guaranteed payments they receive from a partnership?
Guaranteed payments received for services rendered by the partner are subject to social security, Medicare, and income tax withholding by the partnership. | ||
Guaranteed payments received for services rendered by the partner are not subject to social security or Medicare tax withholding, but are subject to income tax withholding by the partnership. | ||
Guaranteed payments received for services rendered are subject to self-employment tax. | ||
Guaranteed payments received for services rendered are subject to social security and Medical tax withholding, but are not subject to income tax withholding by the partnership. |
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