Surgent's Reducing a Business Owner Client's Exposure to Social Security and Self-Employment Taxes

Available Anytime

Location: Online

2Credits

Technical Business

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~~$89.00 Regular Price~~

Nonmembers

$119.00 Regular Price

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Product Code: SU24-REXE-SSWC

Level: Intermediate

Vendor: Surgent

Field of Study: Taxes

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.

Objectives:

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

Major Topics:

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

Designed For:

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

Prerequisite:

Basic knowledge of individual income tax

Additional Info:

You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.