Which of the following is a true statement?
A)Congress allows self-employed taxpayers to deduct the employer portion of their self-employment tax.
B)To deduct expenses associated with any profit-motivated activity taxpayers must maintain a high level of involvement or effort in the activity throughout the year.
C)Business activities never require a relatively high level of involvement or effort from the taxpayer.
D)All business expenses are deducted for AGI.
E)All of the choices are true.

Question

Quizplus · Accepted Answer

Congress does allow self-employed taxpayers to deduct the employer portion of their self-employment tax as an above-the-line deduction. This helps to offset the higher tax burden that comes with being self-employed.

Which of the Following Is a True Statement