Surgent's Reducing Your Business Owner Clients' Exposure to Social Security and Self-Employment Taxes (Self-Study)

Code: JSODREXE

Date Valid for one year from purchase date
Format Self-Study (On-Demand)
CPE credits CPE 2.0
Field(s)
of study
Taxes - Technical (2.0)
Fees
Standard member fee $49.00
checkmarkStandard nonmember fee $49.00

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Description

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.

Who should take this program?

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

Major subjects

  • 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

Learning objective(s)

  • 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

Notes:

Course code Code JSODREXE
Sponsor Surgent
NASBA ID#: 103212
Level Intermediate
Format Self-Study (On-Demand)
Prerequisites Prereq. Basic knowledge of individual income tax
Advance
prep
None