Which of the following statements is correct regarding self-employment tax? 1. W-2 income earned during...
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Accounting
Which of the following statements is correct regarding self-employment tax?
1. W-2 income earned during a year will always reduce the amount of self-employment tax due on selfemployment income.
2. Two separate sources of self-employment income are combined to determine the total self-employment tax owed by the taxpayer.
a. 1 only.
b. 2 only.
c. Both 1 and 2.
d. Neither 1 nor 2.
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