Should mike be excited about his five percent raise

Assignment Help Taxation

Reference no: EM13906034

1. How do the tax consequences of being an employee differ from those of being self-employed?

2. Mike wanted to work for a CPA firm but he also wanted to work on his father's farm in Montana. Because the CPA firm wanted Mike to be happy, they offered to let him work for them as an independent contractor during the fall and winter and let him return to Montana to work for his father during the spring and summer. He was very excited to hear that they were also going to give him a 5 percent higher "salary" for the six months he would be working for the firm over what he would have made over the same six-month period if he worked full-time as an employee (i.e., an increase from $30,000 to $31,500). Should Mike be excited about his 5 percent raise? Why or why not? What counteroffer could Mike reasonably suggest?

Reference no: EM13906034

Questions Cloud

What is the difference between nuclear fission : What is the difference between nuclear fission and nuclear fusion? What are the significances of them both?

How are tax credits and tax deductions similar : How are tax credits and tax deductions similar? How are they dissimilar? What are the three types of tax credits, and explain why it is important to distinguish between the different types of tax credits.

Xplain what role women played in the scientific revolution : xplain what role women played in the Scientific Revolution of the 18th Century?

Heels, a shoe manufacturer, is evaluating the costs : Heels, a shoe manufacturer, is evaluating the costs and benefits of new equipment that would custom fit each pair of athletic shoes.

Should mike be excited about his five percent raise : Should Mike be excited about his 5 percent raise? Why or why not? What counteroffer could Mike reasonably suggest?

What is difference between first and second order kinetics : And if the reactant was in excess to the waste stream and was modeled with 2nd order kinetics equal to k = 1000 g-moles per liter minute --- what does this mean?

Explain how would make the buffer : A 1 M solution of both KH2PO4 and K2HPO4. you want to make 100 ml a 50 mM potassium phosphate buffer with a pH pf 7.3. Explain how you would make the buffer.

List and describe at least two grades of commercially : List and describe at least two grades of commercially available ammonium nitrate. Why does OSHA require employers to store bulk quantities of ammonium nitrate within a bin that is clean and free of contaminants? Give an example of a contaminant, and ..

A hydrogen atom electron is in the 6f state : A hydrogen atom electron is in the 6f state. State the values of all quantum numbers associated with this state. Find the value of energy of the electron. Compute the values of L and possible values of Lz and the minimum and maximum angles between L ..

User Account

All Pages