The §199A wage and property limits are expected to cost taxpayers $10.6 billion per year in extra federal income taxes. Learn the intricacies of these limitations and pick up some planning strategies to help reduce your clients’ taxes.
We’ll take a comprehensive, deep dive into the wage, property and other limits. We’ll cover tax planning strategies to maximize the §199A 20% QBID.
We’ll cover in depth:
How to measure the “property” factor.
o How to increase the property factor without losing tax deductions.
o How to compute the exact amount of property you need to maximize the QBID.
How to measure the “W-2 wage” factor.
o Should your S corporation clients be paid bonuses before year end to maximize the QBID?
When can taking a bonus backfire?
How to use “aggregation” to maximize your client’s QBID.
o When to aggregate.
o When you shouldn’t aggregate.
Who Should AttendNew and experienced CPA’s who practice in the tax area or who need a better understanding of the tax law for other areas of practice.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (2 hours)