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Self-Employment Tax: Today’s World of Sharing, LLCs, and Tax Reform, by Wolters Kluwer

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

Designed For
Practitioners seeking better understanding of the self-employment rules and common issues that arise and how to avoid them.

Topics Covered

  • 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

Learning Objectives

  • 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

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