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Limited Partners Can No Longer Avoid Self Employment Tax

Sep 19, 2024 12:00:00 PM

The Tax Court's recent ruling in Soroban Capital Partners has significant implications for determining whether a limited partner's distributive share qualifies for the self-employment tax exception under Section 1402(a)(13). The court mandated a functional analysis of the limited partner's role in the partnership, but didn't specify the exact criteria for this analysis.

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Christine Gervais

Christine Gervais is a licensed CPA, using her skills to help businesses grow and achieve their fullest potential. Christine has a Master’s degree in accounting from Southern New Hampshire University in addition to holding her CPA license for over a decade. Notably, Christine is a nationally recognized speaker providing education to other CPAs on how to best serve clients as well as instruction on a wide variety of topics for business owners on how to maximize success. Christine prides herself on the value she can bring to clients with her extensive tax knowledge and provides strategic, forward-thinking financial strategies to help clients grow. When not behind her desk, you can find Christine spending quality time with her daughter and stepson or tending to the family’s excessively loved farm animals.

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