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Reducing a Business Owner Client’s Exposure to Social Security and Self-Employment Taxes (Z1-REXE-2022-01-SSWC)

100 Minutes
On demand - Video

On Demand - Video

2 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. It covers strategies that can be used to reduce clients' exposure to the self-employment tax and Social Security tax.

DESIGNED FOR

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

BENEFITS

  • 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

COURSE LEVEL

Intermediate

PREREQUISITES

Basic knowledge of individual income tax

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS

PRICING

$89.00 - Member

$109.00 - Nonmember

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

Surgent

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