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 W 2as Form 2011

2011-2025 Form

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Instructions and help about W 2as Form

hello and welcome to session 23 of the basic tax course we're going to begin session 23 with the review of the session 21 20 quiz and the first most frequently missed question on the session 2021 quiz is question number two a self-employed individual may elect to use the non-farm optional method for calculating self-employment tax not more than five taxable years in his or her lifetime that is a true statement and uh really we didn't spend much time talking about the optional method so I'm going to pull you over to the answer key here and on the answer key for question number two it says to use the optional method you must meet the following tests you have to have net profits from your business that are less than 4851 net profits were less than 72.1 189% of gross income before expenses net earnings from self-employment were at least 400 in at least two of the last three years and you cannot use the optional method for calculating SE tax more than five times in y

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