QUESTION IMAGE
Question
- which form is used by independent contractors to report income? 4 points a) 1099 b) w - 4 c) w - 2 d) i - 9 26. gross earnings means: 4 points a) take - home pay after deductions b) tax refunds c) overtime pay only d) total pay before deductions
Brief Explanations
For question 25, form 1099 is used by independent contractors to report income. W - 4 is for employees to indicate tax - withholding information, W - 2 is an employer - issued form for employees' annual wage and tax statement, and I - 9 is for employment eligibility verification. For question 26, gross earnings are the total pay before any deductions are made. Take - home pay after deductions is net pay, tax refunds are not related to the definition of gross earnings, and overtime pay is just a part of gross earnings in some cases.
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- a) 1099
- d) Total pay before deductions