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Monday, November 15, 2021 Live Webcast

Reducing a Business Owner Client’s Exposure to Social Security and Self-Employment Taxes (E2111382)

11:00 AM - 12:40 PM EST

Registration: 10:30 AM EST

webcast

Vendor Platform

2.0 CPE Credits in TX

OVERVIEW

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 and strategies that can be used to reduce their clients' exposure to the Self-Employment tax.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

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

BENEFITS

  • Identify what kinds of income are and are not subject to Social Security and self-employment tax
  • Understand how the  self-employment tax applies to  general partners, limited partners, and LLC members
  • Determine how using a pass-through entity can reduce or eliminate employment tax for the principals and family members
  • Understand how the 0.9% tax and the 3.8% tax apply to self-employment income and earned 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 taken 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 children helps reduce self-employment tax
  • Differentiating between income treated as self-employment income and income that is not self-employment income

COURSE LEVEL

Intermediate

PREREQUISITES

Basic knowledge of individual income tax.

ADVANCE PREPARATION

None

INSTRUCTOR

John Kilroy

John Kilroy, CPA, CFP

John Kilroy is a managing member of iValue Financial Planning LLC, located in the Philadelphia, Pennsylvania area. John engages clients in financial and tax planning, as well as preparing tax returns for individuals, corporations, partnerships, estates, and trusts. John is a CPA and a CFP® practitioner. He is a 1979 graduate of Villanova University with a BS in Accounting. John is a member of the Pennsylvania Institute of Certified Public Accountants and the Financial Planning Association (FPA). Within the FPA, John has served as a board member of the Philadelphia Tri-State chapter and on its education and finance committees. John is an adjunct faculty member for the Temple University Certificate of Financial Planning Program. He is a frequent speaker and facilitator on tax and financial planning topics. John has been quoted in the Wall Street Journal, MarketWatch.com, and USATODAY.com. He has written for the Journal of Financial Planning, and is a contributor to Retirement Weekly. John has also discussed financial and tax planning issues on various radio outlets.

PRICING

$99.00 - Member

$136.50 - Nonmember

Event Cancelled

This event has been cancelled.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

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