Sec. 199A Cutting Edge Tax Strategies: The Ground Rules and Planning to Optimize the QBID (Completed)

Date: Friday, September 13, 2019
Instructor: Greg White
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Join expert, Greg White, CPA, as he takes a comprehensive, deep dive into the ground rules of QBID. We’ll cover tax planning strategies to maximize the §199A 20% QBID.

Who Should Attend
New 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.

Topics Covered

  • Which items of income and expense are excluded from the QBID?
  • Planning for LLCs and their members
    • How to maximize the QBID for LLCs
    • How to avoid getting stung by guaranteed payments
  • The two most important rules of §199A that we all need to be familiar with
  • How to minimize taxes on the sale of a business by utilizing the QBID
  • Tax planning for QBID "cliffs" — how to give optimal advice to your clients
  • How carryovers (passive, basis limitation, etc.) have a special treatment under §199A
  • QBID planning for estates and trusts
  • Hot off the presses: New Tax Forms for the QBID
  • Penalty changes for clients who take the QBID — how should you reduce the possibility of client penalties and preparer penalties?

Learning Objectives

  • Identify methods to increase the QBID for LLCs and their members
  • Identify methods to reduce tax on the sale of a business using the QBID
  • Describe how to reduce the risk of penalties (both for clients and preparers)
  • Recognize how to apply the best method to advise clients who are in the "phase out" range

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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