2018 LLCs: Reducing Self-employment Tax and Maximizing the 20% Passthrough Deduction

Authored by Greg White
About this Course
Topics covered include: Which LLC members are subject to self-employment tax; How does self-employment tax apply to spouses of LLC members; The IRS's new audit campaign for self-employment tax of LLC members; How to minimize self-employment tax for LLC members; Which members benefit from paying self-employment tax; How to adjust guaranteed payments to maximize the 20% passthrough deduction. Upon completing this course, you should be able to: Recognize when self-employment tax doesn't apply to LLC members; Identify and apply self-employment principles to LLC members; Describe how to maximize LLC's 20% passthrough deduction; Recognize how to adjust guaranteed payments to maximize the 20% passthrough deduction; Identify exceptions to SE tax for LLC's; Calculate the costs of lost social security benefits; Differentiate characteristics of the new QBID deduction; Identify the full phase in amount for the QBID for those individuals filing as single; Describe business for purposes of SE tax; Identify decisions from court cases and how they apply to clients; Recognize prerequisites of SE tax limited partnership rules in proposed regulations; Identify what should be done next after calculating costs of lost social security benefits; Recognize and apply §199A QBID deductions.
$ 60.00
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NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Experience in preparing Forms 1065 for LLCs.
Last Updated
08/31/2018
14492