Self-Employment Tax: Today’s World of Sharing, LLCs, and Tax Reform is brought to you by Wolters Kluwer
Self-employment tax has become a more frequent issue today. Every year we see court decisions involving LLCs as well as whether certain activities are businesses or hobbies. Short-term rentals, such as via Airbnb, may generate SE tax obligations. This webinar reviews the rules and issues regarding self-employment taxes and how to avoid problems.
Publication Date: May 2022
Practitioners seeking better understanding of the self-employment rules and common issues that arise and how to avoid them.
- Basics of the self-employment tax statute and regulations
- Types of taxpayers and activities subject to self-employment tax
- A review of recent cases
- Due diligence considerations and avoiding problems
- Identify when an individual is subject to self-employment tax
- Recognize due diligence steps to avoid problems in the SE tax area
- Identify the Medicare tax percent applicable to self-employment income
- Recognize which IRS Form should be completed with respect to additional Medicare tax
- Identify the 2022 Social Security Wage Limit
- Identify the number of factors used to assess whether activity is a hobby or a business
- Differentiate referenced cases and how they apply