Self-Employment Taxes for Business Owners and Investors

05/10/2011

Self-Employment Taxes for Business Owners and Investors

Self-employment taxes can be a land mine for business owners or investors. Because self-employment taxes may apply to someone who is not “self-employed” in the traditional sense of the word, an individual may find him or herself on the hook for unexpected tax liabilities when the tax man comes knocking.

Unfortunately, the rules governing self-employment taxes are complicated and lack clarity, particularly with respect to owners of interests in limited liability partnerships (LLPs) and limited liability companies (LLCs). This article is intended to enlighten readers about these issues.

Excerpted from NAWBOTX.org, May 10, 2011. To read the full article, click here.

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