Courses

Surgent's Reducing a Business Owner Client's Exposure to Social Security and Self-Employment Taxes On-Demand Webcast

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Member Price: $89.00 Non-Member Price: $119.00

Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Taxes: 2.00
Fields of Study:: Taxes
Level:: Intermediate

Many business owner clients wish to minimize their Social Security and self-employment tax liabilities. This course provides tax practitioners with the background to understand what kinds of income constitute self-employment income and earned income. It covers strategies that can be used to reduce clients' exposure to the self-employment tax and Social Security tax.

Objective

Determine when avoiding earned income/SE income works favorably for the client
Understand how hiring a spouse and/or child helps reduce self-employment tax
Differentiate between income treated as self- employment income and income that is not self-employment income

Highlights

Section 1402(a)(1) exclusions from the definition of self-employment income
Application of the SE tax to members of limited liability companies
Taking a self-employed owner's health insurance deductions against self-employment tax
How using the S corporation and the MMLLC treated as a partnership can help reduce an individual's exposure to self-employment tax
How hiring a spouse and/or child helps reduce self-employment tax
Differentiating between income treated as self- employment income and income that is not self-employment income

Designed For

Tax practitioners who advise clients with regard to their self-employment tax liability

Prerequisite

Basic knowledge of individual income tax

Advanced Preparation

None