Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2024 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Sec. 199A Cutting Edge Tax Strategies for Doctors, Lawyers, and other Specified Service Trades or Businesses
We’ll take a comprehensive, deep dive into specified service trades or businesses (“SSTBs”). Join expert, Greg White, CPA, as he takes an in depth look into SSTBs.
Publication Date: October 2021
Designed For
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
- The most important rule in the area of SSTBs
- Detailed definitions — what's included in each of the SSTB categories
- And just as importantly — what's excluded from SSTB categorization?
- Tax planning for SSTB clients
- How do "self-rentals" to a commonly controlled SSTB work?
- What happens when an owner of the real estate doesn't own an interest in the SSTB?
Learning Objectives
- Identify different types of SSTBs
- Identify tax planning strategies for taxpayers with SSTB income
- Recognize and apply the "self-rental rule" in the case of rentals to SSTBs
- Recognize and apply strategies to increase the §199A deduction for businesses that have SSTB income and non-SSTB income
- Identify the limitation on Section 199A deduction is for taxable income exceeds the threshold amount
- Recognize the QBID rate
- Identify what is not a specified service business for which a QBID is limited
- Recognize what is excluded from the definition of financial services for SSTB purposes
- Recognize what section of the Internal Revenue Code addresses the QBID
- Differentiate correct statements regarding SSTB income and the QBID
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.