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 incomeHighlights
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 incomeDesigned For
Tax practitioners who advise clients with regard to their self-employment tax liabilityPrerequisite
Basic knowledge of individual income taxAdvanced Preparation
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