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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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