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

Date: Wednesday, February 26, 2020
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.

Partial credit will not be awarded for attendees that are not present for the entirety of the webinar.

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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