which statement is true regarding independent contractors and income taxes? a. independent contractors pay a…

which statement is true regarding independent contractors and income taxes? a. independent contractors pay a flat tax rate. b. independent contractors can claim allowable business deductions. c. independent contractors do not have to pay income tax. d. independent contractors have taxes withheld from every paycheck.

which statement is true regarding independent contractors and income taxes? a. independent contractors pay a flat tax rate. b. independent contractors can claim allowable business deductions. c. independent contractors do not have to pay income tax. d. independent contractors have taxes withheld from every paycheck.

Answer

Brief Explanations:

Independent contractors are self - employed and can claim allowable business deductions related to their work, such as equipment costs or home - office expenses. They do not pay a flat tax rate, are required to pay income tax, and do not have taxes withheld from paychecks since they are not employees.

Answer:

B. Independent contractors can claim allowable business deductions.