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
Join expert, Greg White, CPA, as he takes take a comprehensive, deep dive into the wage, property and other limits. We’ll cover tax planning strategies to maximize the §199A 20% QBID.
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
- How to measure the "property" factor
- How to increase the property factor without losing tax deductions
- How to compute the exact amount of property you need to maximize the QBID
- How to measure the "W-2 wage" factor
- Should your S corporation clients be paid bonuses before year end to maximize the QBID?
- When can taking a bonus backfire?
- How to use "aggregation" to maximize your client's QBID
- When to aggregate
- When you shouldn't aggregate
Learning Objectives
- Identify the amount of property basis necessary to optimize the QBID
- Identify the amount of W-2 wages necessary to optimize the QBID
- Recognize and apply the requirements to "aggregate" businesses
- Identify situations when clients should take year-end bonuses (within the context of reasonable compensation)
- Recognize the percentage of those taking a QBID are affected by the wage or property limits
- Identify correct statements regarding the QBID property cap
- Recognize correct statements regarding wage and property limits to 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.