§199A Pass-Through Deduction: How to Turn High Taxed Tears to Joy (Currently Unavailable)

Author: Bradley Burnett

Thanks to Section 199A of the Tax Cuts and Jobs Act (TCJA), pass-through businesses may take advantage of the lowest tax rates for non-C Corporations in thirty years. However, CPAs and other tax professionals must be aware of the rules and regulations included in §199A to claim deductions for their clients and ensure compliance.

About the Course
Pass-through businesses are unique in that they pass income and expenses to the owners. Accordingly, they do not pay corporate income tax or benefit from reductions to this tax rate. To help smaller, non-C Corporations compete with larger entities, the TCJA allows pass-through businesses to deduct up to 20% of qualified business income (QBI) earned on the owner’s return. However, not all entities are included in this update.

In §199A Pass-Through Deduction: How to Turn High Taxed Tears to Joy, you’ll learn everything you need to know to position clients for maximum tax benefits. This four-hour self-study course is led by Bradley Burnett, J.D., LL.M., an active tax attorney.

Publication Date: November 2018

Designed For
CPAs, EAs, and tax professionals who advise pass-through entities on tax issues and file returns for owners and members.

Topics Covered

• Making the most of the TCJA's 20% pass-through deduction for eligible entities
• Why some higher and lower-income taxpayers are excluded
• Comparing top income tax rates
• Differentiating between C-Corp and Non-C Corp entities
• QBID for qualifying individuals, estates, and trusts
• Hurdles of loss limitation
• Qualified business income effective rates
• QBI deduction computation
• Wage and property limits
• Whether rental real estate is a business
• And more...

Learning Objectives

• This pass-through deduction course will equip you with an enhanced knowledge of the TCJA and how the §199A deduction applies to your clients.
• Upon its completion, you'll be able to identify cutting-edge tax planning opportunities, recognize the new top rate for pass-through income, and differentiate organizations that are ineligible for the QBID.
• At the same time, you'll come away with an understanding of the property limit, why an S Corporation is generally more ideal than a C Corporation, and other essential concepts.

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
A basic understanding of TCJA.

Advance Preparation
None