On-Demand

2 CPE

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

On-Demand
2 CPE

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This course is delivered as a recorded video. After completing all sessions, you must pass the final exam with a minimum score of 70% to receive credit.

 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.

Learning 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

CPE Credits Available

2 CPE
2
Taxes

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Enrolled Agent - IRS Credit Eligible
  • Tax

Prerequisites

Basic knowledge of individual income tax

Advanced Preparation

None

Intended Audience

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

Provider

Surgent CPE

Purchase This Course

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  • COCPA Non-Member

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