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Tax Strategies for Partnerships Part 4: Maximizing the QBID and Minimizing Self-Employment Taxes, by Wolters Kluwer

Tax Strategies for Partnerships Part 4: Maximizing the QBID and Minimizing Self-Employment Taxes is brought to you by Wolters Kluwer

Join expert Greg White, CPA, as he takes a deep dive into the special tax considerations for maximizing the section 199A QBID for partnerships and self-employment taxes for LLC members. Greg will also cover application of the at-risk rules to LLCs. Participants will learn specific strategies to save clients money.

Publication Date: May 2022

Topics Covered

  • Section 199A — special considerations for partnerships
  • Controlling self-employment taxes for LLC members
  • Liabilities: Basis and At-Risk
  • Self-Employment Taxes
  • General Partners
  • Limited Partners
  • LLCs — Neither
  • Piggybacks
  • SE Tax for LLCs and Case Law
  • SE Tax for LLC Members

Learning Objectives

  • Recognize how to maximize the section 199A deduction for clients in the context of partnerships
  • Identify situations where an LLC is more suitable for your clients than an S corporation
  • Recognize how to structure LLC agreements to minimize self-employment taxes
  • Identify the number of hurdles you need to clear in order to claim partnership losses
  • Describe what portion of liabilities allocated on K-1 provide tax basis
  • Recognize how many ways there are to avoid SE tax under the proposed regulations provided

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