For many small businesses, payroll tax costs can exceed the amount of income tax paid. This area has taken on greater importance with the recently enacted 20% “pass-through deduction”. This session is designed to aid practitioners with these issues and includes a discussion concerning reasonable amounts of compensation for S corporation employee-shareholders.
Course Publication Date:
October 17, 2019
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or
webinar membership or can be purchased for
$20.00!
| Author: | Greg White |
| Course No: | TAX-SCORP-14029 |
| Recommended CPE: | 2.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Basic |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Taxes
Webinars - On Demand
|
|
|
|
Learning Objectives
- Identify methods to assist clients to determine the amount of reasonable compensation to pay shareholder-employees of S corporations.
- Recognize professions that are most commonly involved in disputes with the IRS over reasonable compensation.
- Recognize situations where sole proprietorships offer a better tax outcome than S corporations.
- Recognize situations where S corporations can increase the qualified business income deduction.
- Identify situations where S corporations can be used to reduce payroll taxes.
- Identify the income levels at which the qualified business income deduction wage and wage/property limits don’t apply.