SE Tax and Sporadic Activity  

Oleh:

Bonner, Paul

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Journal of Accountancy vol. 212 no. 4 (Oct. 2011), page 64.
Topik: Self Employment; Taxpayers; Tax Preparation; CPAs
Fulltext: SE Tax and Sporadic Activity.pdf (33.49KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.31 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

A common issue for taxpayers and their CPA return preparers is whether an activity for which the taxpayer received compensation during the tax year constitutes self-employment (SE) for purposes of self-employment tax. The answer can make a big difference in tax liability, since self-employment tax amounts to 15.3% of net self-employment earnings (13.3% for 2011) Certain types of activities have been determined not to be a trade or business for purposes of SE tax, such as looking after one's investments, engaging in hobbies or performing a public office. Activities performed as an employee are not self-employment. And while partners and sole proprietors generally must pay SE tax on the net profits of their trade or business, S corporation shareholders do not pay SE tax on distributions from the corporation.

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