If an employer withholds taxes from an employee, in general, when are these taxes treated...
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Accounting
If an employer withholds taxes from an employee, in general, when are these taxes treated as paid to the IRS?
A. As the employee requests on his/her W-4 form.
B. As withheld.
C. Evenly throughout the year.
D. On April 15.
Dan is a single, self-employed carpenter who earned $120,000 this past year in self-employment income. Dan paid the following expenses this year. Which of the expenses are deductible for AGI.
1. The cost of health insurance.
2. The employer portion of self-employment tax paid
3. Penalty on early withdrawal of funds from a certificate of deposit
A. All of the choices are deductible for AGI.
B. Numbers 1 and 2 only.
C. Numbers 2 and 3 only.
D. None of the choices is deductible for AGI.
E. Numbers 1 and 3 only.
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