nick has recently started his independent graphic design business. besides income tax, which additional tax…
nick has recently started his independent graphic design business. besides income tax, which additional tax does nick need to pay as a self - employed person? choose 1 answer: a federal unemployment tax b sales tax c luxury tax d self - employment tax
Answer
Brief Explanations:
Self - employed individuals are responsible for paying self - employment tax in addition to income tax. Federal unemployment tax is typically paid by employers, sales tax is paid by consumers on the purchase of goods and services, and luxury tax is on high - end goods. Self - employment tax covers Social Security and Medicare contributions for self - employed people.
Answer:
D. self - employment tax