New Search Add to Cart

Overview

4.0 Credits
ONLINE

Section 199A is easily the least understood topic of The Tax Cuts and Jobs Act. Your clients will look to you for explanations and best practices to maximize the 20% deduction. Pass-through entities and real estate investors stand to gain valuable tax cuts, and the average practitioner cannot afford to be uninformed on Section 199A. This program incorporates the experiences many tax practitioners had over the last tax season calculating and applying this deduction. This course will cover all relevant facets and nuances of the deduction, as well as implementation issues and lessons that will be useful in advising clients this year. This program will include all relevant IRS guidance.

Objectives

  • • Understand how the 20% deduction for pass-through entity owners works
  • • Implement the benefits of this deduction for income tax returns

Major Topics

  • • Latest guidance issued by the IRS, whether by way of regulations or administrative announcements
  • • What happens when the taxpayer owns multiple entities; aggregation rules
  • • Calculating qualified business income (QBI)
  • • How to identify a specified service trade or business
  • • Taxable income limits on specified service trade or businesses
  • • The wage limitation and associated limits
  • • Maximizing the 20% deduction for pass-through entities and Schedule Cs
  • • Proper treatment of REIT, PTP, and Cooperative income
  • • Treatment of carryover amounts
  • • Entity choice and the Section 199A deduction
  • • Rental activities as a trade or business and the rental safe harbor
  • • Completion of Forms 8995 and 8995-A

Designed For

Any tax practitioner wishing to understand and apply the §199A deduction

Prerequisite

A basic understanding of the federal tax rules relating to individuals and businesses

Sessions

Please select the appropriate session or option below to continue with your online purchase.

Course Materials:

eMaterials

Your registration fee includes an electronic copy of the course manual. Your eMaterials will be available for download in the "My CPE" area of the website one week before the program date. Please note: Program cancellations will not be allowed once you have downloaded your eMaterials from the website. Copyright note: Reproduction or distribution of the manual or any portion of it is prohibited unless written permission is obtained from the course provider.

Add to Cart

Access instructions for this livestream seminar will be emailed several days prior to the program date.