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5 October, 06:39

The advantage of being self-employed (rather than being an employee) is: A. The overall limitation (50%) on meals does not apply. B. Job-related expenses are deductions for AGI. C. The self-employment tax is lower than the Social Security tax. D. To avoid the self-employment tax. E. All of the self-employment tax deductible for income tax purposes.

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  1. 5 October, 07:40
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    B. Job-related expenses are deductions for AGI.

    Explanation:

    A person is said to be self-employed if he is working for oneself rather than for an employer as a freelancer or the owner of a business.

    Adjusted gross income (AGI) refers to the measure of income calculated from your gross income. AGI is used to determine the amount of tax.

    The advantage of being self-employed (rather than being an employee) is job-related expenses are deductions for AGI.
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Home » Business » The advantage of being self-employed (rather than being an employee) is: A. The overall limitation (50%) on meals does not apply. B. Job-related expenses are deductions for AGI. C. The self-employment tax is lower than the Social Security tax. D.
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