Up-to-the-minute Update on Self-Employment Tax for Partners in Partnerships (2 hours - late morning) - Webcast
Overview
If you prepare Form 1065s or have clients who receive K-1s from partnerships you will want to attend this course! The IRS is battling with some of the largest partnerships in the Country over self-employment taxes and this will have major implications for all partnerships going forward. We’ll provide a broad overview of self-employment tax application for partners including LLC members and Limited Partners including up-to-the-minute changes. We will provide planning ideas on structuring to minimize self-employment tax for partners. We’ll also cover the benefits of paying SE tax (an often-overlooked element of planning).
Highlights
- 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.
- New cases on the application of self-employment tax to limited partners, including Denham Capital LP and the "functional analysis test".
Designed For
Participants should have a minimum of 2 years’ experience in the tax area including preparation of Forms 1065 for LLCs and Limited Partnerships.
Objectives
- Learn when self-employment tax doesn't apply to LLC members and Limited Partners.
- Apply self-employment principles to LLC members and Limited Partners.
Leader(s):
Leader Bios
George Koutelieris, Cutting Edge Tax Strategies LLC
George J. Koutelieris, CPA, MS-Tax, is a shareholder in the firm Johnson & Shute P.S. and a Member of Cutting Edge Tax Strategies, LLC. He is also an Adjunct Professor at Golden Gate University teaching various tax courses.
George's practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners, with a concentration on the real estate industry.
George is a member of the American Institute of Certified Public Accountants and the Washington Society of Certified Public Accountants, where he is a former chair of the WSCPA's Taxation Committee. George is also an active speaker on various tax topics, having presented in the past for all the State Societies on the west coast.
(3/19/21)
Gregory White, Cutting Edge Tax Strategies LLC
Greg White, CPA-WA, has practiced tax accounting for more than 35 years. He is founder, shareholder, and President of CPA firm WGN, P.S. in Seattle, Washington, which serves a successful entrepreneurial client base. He also owns and operates State of the Art Tax, LLC, a tax education company. Greg is in his tenth year as an adjunct professor at the Golden Gate University's Seattle Campus where he teaches capital assets, tax accounting, and individual taxation. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named "Top 50" IRS Practitioner by CPA Magazine.
Greg has extensively presented tax CPE, predominantly on the west coast, over the last decade and has written and presented live courses and webinars for CCH and others nationally. He has presented tax topics in the Pacific Northwest on TV including spots on KOMO TV, King TV, and Northwest Cable News. He is frequently in contact with Treasury, IRS, and other top government officials in Washington, D.C. as to late breaking guidance from the government and has been involved in making recommendations to them to help practically shape federal tax legislation and administrative guidance.
(11/2/20)
Non-Member Price $120.00
Member Price $105.00