Sec. 199A Final Regulations Finally Drop: Choices, Choices, Which Way to Go? (Completed)

Date: Monday, February 11, 2019
Instructor: Bradley Burnett
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  3 hours for CPAs
3 hours Federal Tax Law Updates for EAs and OTRPs
3 hours Federal Tax Updates for CTEC

IRS Throws Down the Gauntlet with Sec. 199A Regs—New Challenges for S Corps., Partnerships, and LLCs

At long last, the (300 page) Final §199A Regs have dropped. What does it mean for 2018 tax returns? Everything. IRS (and Treasury) have thrown down a critical choice at our feet: Choose to apply (to 2018 returns) 08/16/18 proposed regs or 01/18/19 final regs. Which to choose? This thre-hour CPE webinar with experienced practitioner and instructor Bradley Burnett will explain why you should look carefully at the August proposed regs and consider if they provide a one-year advantage to you in filing 2018 returns for clients who are S corps., partnerships, or LLCs. The possibilities are there for enhanced tax savings depending on your client or business’s specific circumstances.

Who Should Attend
All CPAs, EAs, tax professionals and tax staff will benefit from this program.

Topics Covered

  • Is rental real estate a §199A business or not? New blood in the analysis
  • Optional aggregation (of businesses) to pump up QBI deduction
  • Differences between proposed and final regs: The breakdown
  • Effective date(s) of the final regs (choices, choices, choices, choices)

Learning Objectives

  • Describe the critical difference between the August 2018 proposed regs and the January 2019 final regs for Sec. 199A
  • Identify how to properly apply the IRS regulations to 2018 tax returns
  • Recognize how to assist clients with tax planning on Sec. 199A Qualified Business Income Deduction

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (3 hours)

Program Prerequisites
Basic understanding of federal income taxation concepts.

Advance Preparation
None

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