Navigating the complexities of self-employment tax planning for S Corporations and partnerships can be a challenging and often misunderstood aspect for many tax professionals. The ever-evolving landscape of tax regulations, coupled with the nuances of FICA, Self-Employment Tax (SET), and the Net Investment Income Tax (NIIT), presents a maze of intricacies that can easily lead to costly missteps or missed opportunities. Furthermore, tax professionals must stay ahead of potential legislative changes that could significantly impact tax strategies for S Corporation shareholders and LLC members. Without a clear understanding and strategic approach to these issues, there’s a risk of falling into common planning traps or failing to capitalize on beneficial opportunities.

In this class, led by Larry Pon, an expert with extensive credentials in the field, participants will gain invaluable insights into the world of self-employment tax planning. The course begins with a foundational overview of FICA, SET, and NIIT, setting the stage for a deeper exploration into the specific tax implications for S Corporation shareholders and LLC members. Participants will learn to identify and avoid common planning pitfalls while uncovering unique tax planning opportunities. The course also provides foresight into possible upcoming legislative changes, equipping professionals with the knowledge to adapt and strategize effectively. This course is an essential tool for tax professionals seeking to enhance their expertise in self-employment tax planning and to provide the best guidance for their clients in a constantly shifting tax landscape.