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Business Succession Solutions

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Developments in FICA and self-employment tax affect partners and S corporations

Steve Gorin July 11, 2017
Dollar

Taxpayers have won and lost cases seeking to avoid self-employment tax on their income as members of limited liability companies. The IRS has had victories (a) disregarding an attempt to shift self-employment income into an S corporation, and (b) making taxpayers pay tax and then sue for a refund when contesting IRS claims that S corporation distributions were really compensation. To tie together 2017 developments, READ MORE

Using an S corporation to avoid self-employment tax

Steve Gorin April 25, 2017
illustration of a hand stopping a punch

Here we examine why the U.S. Tax Court rejected a financial consultant’s efforts to shift income to an S corporation to save self-employment tax, and how another approach may have been more successful in avoiding SE tax. READ MORE

Tax court finds no self-employment tax for passive LLC member

Steve Gorin March 28, 2017
Tax

Self-employment (SE) tax is one of the driving forces when a tax advisor recommends what type of entity to use for one’s business. READ MORE