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Event Information

199A Planning Webcast | 4204324B CANCELED
Date: July 27, 2020
Event Start time: 8:30 AM   End time: 12:00 PM
Location: Webcast

Facility: Webcast Event

 


Member:       $149
Nonmember: $199

CPE Credits:

4.00 CPE: Continuing Professional Education Technical
4.00 CTEC-Fed: Certified Tax Preparers (CTEC) Federal Hours Technical
4.00 IRS-TX: IRS Federal Tax Update Technical
4.00 MCLE LS-TX: Legal Specialization-Taxation Law Technical
4.00 MCLE: MCLE Technical


 

Review the Qualified Income Deduction of Section 199A. Learn what's required to qualify for the section 199A deduction, compliance issues, and planning opportunities; including restructuring existing businesses to obtain a larger deduction. The determination of whether the business is a specified service trade or business (SSTB), and the income limitation applicable to SSTBs, will be discussed.

 

Objectives:
 
  • Determine how to compute the QBI Deduction including:
    • The taxable income phase-out for a specified service traes or business;
    • The phase-in of the limit based upon W-2 wages and unadjusted basis;
    • Maximizing W-2 wages and unadjusted basis;
    • Calculating the Combined QBI Amount
    • Calculation of the limit based upon taxable income minus net capital gain.
  • Identify special strategies for partners and S shareholders to maximize the QBI deduction.
  • Recognize the impact of fiscal year partnerships and S corporations.
  • Determine the interaction of section 199A with other IRC sections such as the passive loss rules and the new limit on nonpassive business losses.
  • Understand the rules for REITS, Publicly Traded Partnerships, and Agricultural Cooperatives as well as recipients of Qualified Cooperative Dividends.
  • Recognize Trust and Estate considerations.
  • Determine when rental real estate is a trade or business.
  • Identify special stratiegies to maximize the QBI deduction with rental real estate.
  • Recognize the impact of the QBI deduction on choice-of-entity considerations.
 

Major Subjects:
 
  • The definition of specified service trade or business
  • Computation of the QBI Deduction
  • Special considerations for partners and S shareholders
  • Interaction of section 199A with other code sections
  • Special rules for REITS, PTPs, and Cooperatives
  • Special considerations involving real estate
  • Choice-of-entity considerations
  • Planning opportunities to maximum the Section 199A deduction
 

Level of Difficulty:
Intermediate

Field of Interest:
Taxes

Prerequisites:
 

General knowledge of taxation of sole-proprietors, partners and S shareholders.

 

Designed For:
 

CPAs and attorneys.

 

Advanced Prep:
 

None

 

Event Notes:
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