Tax Cuts and Jobs Act Highlights for Pass-through Entities

Author: Greg White

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC

Put on your seatbelt and hold on. Congress passed most significant tax act in 31 years. Join experienced instructor Greg White for a high-speed overview in this two-hour CPE course that will focus on the qualified business income deduction (QBID) and how that works for specific partnership, S corp, and LLC clients.

Prepared and presented by tax expert and tax educator, Greg White, this course will give you the overview you need on these vital topics to help you prepare for the 2018 tax year the impact of the Tax Cuts and Jobs Act on your passthrough entity clients.

Publication Date: June 2018

Designed For
EAs, tax professionals, and CPAs in industry and public accounting who need a thorough understanding of how the Tax Cuts and Jobs Act will affect 2018 returns and planning.

Topics Covered

  • Mechanics of the new qualified business income deduction (QBID)
  • Which income qualifies for the 20% deduction?
  • When do wage and property limits apply to the QBID?
  • When can attorneys and CPA's qualify for the deduction?
  • Practical strategies to assist your clients in qualifying for the QBID.
  • How does the QBID apply to real estate?
  • Should your clients switch from S corporations to C corporations?
    • Impact of the accumulated earnings tax
    • Impact of the personal holding company tax.

Learning Objectives

  • Recognize how to advise clients on the Tax Cuts and Jobs Tax Act
  • Identify the new effective tax rates and 20% deduction for K-1 income
  • Recognize what's included in qualified business income for purposes of the TCJA
  • Describe qualified business income deduction (QBID) and how it applies to tax payers
  • Identify accumulated earnings under TCJA
  • Recognize the corporate tax rate under TCJA

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of pass through entities.

Advance Preparation
None

Registration Options
Quantity
Fees
Regular Fee $49

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