Events Search
  Summary & Check Out (0)

Reducing Your Business Owner Clients' Exposure to Social Security and Self-Employment Taxes (Z1-REXE)

100 Minutes
On demand

On Demand

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.

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

PRICING

$36.75 - Member

$49.00 - Nonmember

COURSE DEVELOPER

Surgent