Surgent's Reducing a Business Owner Client's Exposure to Social Security and Self-Employment Taxes
January 30th, 2025 - January 30th, 2025 @ 10:00AM-12:00PM
| Member Price | $99 |
| Non-Member Price | $129 |
| If you are a member, please login to activate member pricing. | |
Credits
2Description
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 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 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