It is neither immoral nor unethical to look for ways to reduce one’s tax liability. The 15.3% self-employment tax asserted against sole proprietors, farmers, partners, and others is an enormous burden for the typical taxpayer. This unique class provides strategies to reduce self-employment taxes by implementing effective tax planning techniques.
Stu Sobel who has 48 years of tax experience that comes from working within the IRS and in the private sector uses his wisdom to show you ways to reduce taxes and comply with the strict guidelines of the IRS.
Topics covered include:
• What is self-employment tax?
• Self-employment tax planning issues for partners
• Trade or business? – impact of the Groetzinger case
• Contesting a Form 1099-MISC – line 21 or Schedule C?
• Disclosing a questionable position – avoiding penalties
• Deducting spouse’s insurance on a Schedule C
• Husband and wife joint venture – reducing self-employment tax for one spouse
• Request for employment tax ruling – eliminating self-employment tax and substituting FICA tax
• LLC guaranteed payments or one-time payment?
• Reducing Schedule C income through home office and auto expense allowances
• Become an expatriate and pay less self-employment tax
• Create an S corporation and pay reasonable salaries
• Retirement strategies for the older taxpayer that reduce self-employment tax for a person currently receiving social security
• Trader, investor, and market-to-market election – Schedule C with no self- employment tax
Self-Study Course Instructions: FOR DOCUMENT-BASED COURSES Download the course document(s) (below) and follow prompts contained in the document. FOR RECORDED COURSES WITH VIDEO Download any course document(s) (below) which may include handouts, glossary, transcripts, etc. Follow any prompts contained in the documents to help you complete the course. Most documents are searchable. |
Understand self-employment tax requirements
Determine whether an activity is a trade or business
Develop techniques to reduce self-employment tax liability through effective tax planning
Structure businesses that will reduce their clients’ tax liability
Stuart Sobel Consulting Inc
President
sobel@taxmedianetwork.com
(317) 581-1827
Stuart “Stu” Sobel combines an in-depth knowledge of taxation and nonprofits with an ability to communicate clearly. A dynamic speaker, Stu seeks to help people understand the very complex world of taxation in every day terms. And he’s just the person to do it — Stu has been in the industry for 48 years. He worked in examination and high level positions at the IRS for 30 years. Following that, Stu spent nine years as the producer and host of his own nationally syndicated radio program called Wise Choices: Taxes and Charity Today. He also ran his own tax and nonprofit consulting firm for 12 years (Stuart Sobel Consulting, Inc.). He has helped create over 2,500 nonprofit organizations worldwide. His expertise on the topic of nonprofit taxation has earned him the title “The Guru of Giving.”
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