Ask Question
18 August, 03:12

A worker may prefer to be treated as an independent contractor (rather than an employee) for which of thefollowing reasons:

A. Avoids the cutback adjustment as to business meals.

B. All of the self-employment tax is deductible for income tax purposes.

C. Work-related expenses are not subject to the 2%-of-AGI floor.

D. A Schedule C does not have to be filed.

E. None of the above

+5
Answers (1)
  1. 18 August, 04:35
    0
    C) Work-related expenses are not subject to the 2%-of-AGI floor.

    Explanation:

    The 2%-of-AGI floor refers to an IRS rule by which employees can deduct itemized deductions that exceed 2% of their adjusted gross income. For example, your AGI = $70,000, then you can only itemize deductions that exceed $1,400.

    On the other hand independent contractors are not subject to this rule.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A worker may prefer to be treated as an independent contractor (rather than an employee) for which of thefollowing reasons: A. Avoids the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers