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Surgent’s Reducing a Business Owner Client’s Exposure to Social Security and Self-Employment Taxes (SU1160/21)

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Surgent’s Reducing a Business Owner Client’s Exposure to Social Security and Self-Employment Taxes (SU1160/21)

Member Price $89
Non-Member Price $119
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December 9, 2021 @ 7:00 am - 9:00 am

Event 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. 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

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

Prerequisites

Basic knowledge of individual income tax

Instructions

None

Details

Date:
December 9, 2021
Time:
7:00 am - 9:00 am

Other

Credit Hours
2
Max Registrations
0
Course Level
I
Course Type
Webinar