Article Date:
October 2013


Word Count:
497

 

 

Are Overhead Disability Monies Subject to Self-Employment Taxes?


Situation

 

Charles owns his own business. He structured the business as a limited liability company (LLC) that’s disregarded for federal income tax purposes. Accordingly, Charles files his income taxes as a sole proprietor.

 

His business had been doing very well; but unfortunately, Charles suffered a physical injury that caused him to become disabled and he is now unable to work.

 

Prior to his injury, Charles planned for the possibility that disability might occur, and at the time of his disability, he was ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee