- NY Credits : 1.0
- TX Credits : 1.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 1.0
Most practitioners deal with Form 1065, U.S. Return of Partnership Income, on a regular basis. This program takes a look at self-employment taxes for partners and LLC members and provides an overview of the state treatment of partnerships and limited liability entities.
Upon successful completion of this course, the user should be able to:
recognize various tax consequences of the self employment tax,
determine which payments are subject to SE tax,
recognize the different treatment of guaranteed payments and salaries in relation to the SE tax,
recognize the differences between general and limited partners and determine their liability regarding the SE tax,
determine proper allocation and apportionment in multistate taxation, and
identify jurisdictions with an entity level tax on LLCs.