Ask Question
6 November, 02:58

Jeffrey works as an independent contractor for an accounting firm jointly owned and managed by the Matthews brothers. Which of the following implications can be drawn from the scenario? Jeffrey will be solely responsible for making payments for his Social Security (FICA). federal income tax, state taxes, and Medicare. The accounting firm will be completely responsible for paying Jeffrey's federal unemployment compensation (FUTA), Medicare, and state taxes. Jeffrey will be protected from unfair labor practices just like an employee under the National Labor Relations Act of 1935 (NLRA) The accounting firm will have to include Jefferey in its dental, medical, pension, and profit - sharing plans.

+1
Answers (1)
  1. 6 November, 06:39
    0
    The correct answer is letter "A": Jeffrey will be solely responsible for making payments for his Social Security (FICA).

    Explanation:

    Independent contractors act like third party services working for an entity to render services for specific jobs. Independent contractors are not employees of the company who hires them for the job which implies the independent contractors are fully responsible for the payment of their own Social Security and Medicare taxes.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Jeffrey works as an independent contractor for an accounting firm jointly owned and managed by the Matthews brothers. Which of 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