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Section 199A Qualified Business Income Deduction and Final Regs (Full-Day Webinar) (Completed)

Date: Thursday, February 14, 2019
Instructor: Bradley Burnett
Begin Time:  7:00am Pacific Time
8:00am Mountain Time
9:00am Central Time
10:00am Eastern Time
CPE Credit:  8 hours for CPAs
8 hours Federal Tax Law Updates for EAs and OTRPs
8 hours Federal Tax Updates for CTEC

How Do Final Regulations for Sec. 199A Affect the QBID on 2018 Returns--Deep Dive on QBID Planning

At long last, the (300-page) Final §199A Regs have dropped. What does it mean for the Qualified Business Income Deduction (QBID) 2018 tax returns? Everything. IRS (and Treasury) have thrown down a critical choice at our feet: Choose to apply (to 2018 returns) the proposed regs from August 2018 or just-released final regs. Which to choose?

This is one of many questions that expert presenter and practitioner Bradley P. Burnett, J.D., LL.M. will tackle in this full-day (8 CPE hours) webinar. You’ll learn how QBID works and the many ways §199A can save money. Calculating this deduction will be a big part of working with your partnership, S Corp, LLC, sole proprietor and real estate rental clients this tax season. Take our all-new course and learn to command the topic.

This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.

Who Should Attend
All CPAs, EAs, and tax professionals who advise businesses and business owners on federal taxation issues.

Topics Covered

  • The QBID explained
  • Definition of "specified service business"
  • How income, wages and property can maximize the QBID
  • Aggregating—what rules apply?
  • 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

  • Explain the QBID to owners of S corps and LLCs, partnership members, and trust and estate administrators
  • Detail the decisions steps to choose between the 2018 proposed regs and the January 2019 final regs for Sec. 199A
  • Develop strategies to maximize the QBID
  • Create tax planning strategies that will maximize the benefits of the Tax Cuts and Jobs Act for partnerships, S corps, and LLCs

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Basic understanding of federal income tax concepts and passthrough entities.

Advance Preparation
None

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