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Self-Employment Income [2017]
Presentor: David Schultz Recorded Date: 7/20/2017 Duration: 100 Min.

Description
This program was recorded during a live presentation given on July 20, 2017 at 12:00PM EST.
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Many administrators have questions about computing the compensation of self-employed individuals. The calculation of earned income can have a profound effect on retirement plan contributions, and frequently involves interrelated computations. This web seminar will use detailed examples to review the tricks, traps, and important facts regarding income derived from self-employment.

Topics include:

  • Self-employed Individuals
  • Role of earned income
  • What is earned income
  • Earned income adjustments
  • Earned income and compensation definitions
  • Applying the 401(a)(17) limit
  • Computing nondiscriminatory compensation
  • Interrelated computations
  • Earned income and 401(k)
  • Multiple businesses
  • S Corporation dividends
  • Effect of losses on earned income
  • Sample spreadsheet
Prerequisites:

There are no prerequisites and no advance preparation required for this program. However, an attendee should have an understanding of the fundamental rules and concepts of 401(k) administration and testing, and have one year of experience.

Level: Intermediate. Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

  • Determine if someone is a self-employed individual
  • Compute an individual’s net earnings from self-employment
  • Calculate an individual’s earned income
  • Compute the plan compensation of self-employed individuals
  • List typical businesses which do not generate earned income
  • Use simple spreadsheets to work with earned income calculations

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