Investment Taxation: The Medicare Tax and Beyond [ITMT Anc]

Jun 24, 2015
Time: 8-4

Subject:

Taxation

Credit Hours:

8.00

Price:

Member: $295.00
Non-member: $445.00

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Discussion Leader: Don Cochran, CPA

Website registration for this course closes on June 23, 2015. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

Investment Taxation: The Medicare Tax and Beyond

June 24, 2015

AKCPA Office
Anchorage, AK
LATE REGISTRATION POLICY
For registrations received less than 21 days from the course date will be charged a late fee of $50 for each 8 hour course and $25 for each 4 hour course.

Taxpayers are facing the tax on net investment income under IRC Section 1411 and it presents new issues and opportunities. The course considers what items of income and expenses are included in computing the amounts subject to the 1411 tax, the related add-on Medicare 0.9% withholding tax on earned income and the impact of income that is excluded from the definition of investment income on the tax. As well, the course will look at various other tax matters related to investment income.

Major Topics:
Investment income types included in the computation of Section 1411 Medicare tax

Passive activity income definition and inclusion under the Medicare tax

Taxation of income from S corporations under the Medicare tax

Expenses allowed in the computation of investment income

Additional 0.9% HI tax on earned income

Investment interest issues, including tracing and included expenses

Learning Objectives:
Understand the application of the taxes under IRC 1411 and 3101(the "Medicare taxes")

Determine income items that are and are not included in the definition of investment income and expenses that are deductible against such income for purposes of the Medicare taxes
Apply the earned income provisions of the complementary tax under 3101
Understand the application of this tax to pass through interests
Advise taxpayers on tax planning strategies involving investment income


Designed For: CPAs whose clients are impacted by Medicare tax under IRC Section 1411

CPE Credits: 8, Taxes

Level of Knowledge: Intermediate

Prerequisite: None

Acronym: ITMT

Discussion Leader: Don Cochran, CPA