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

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