Section 199A Deduction of Qualified Business Income: Guide to Applying IRS Final Regulations & Revenue Procedures Webinar
Overview
The Section 199A Deduction in the Tax Cuts & Jobs Act of 2017 offers a substantial break for qualified individuals and pass-through entities. However, the law itself is vague and ambiguous. The final regulations, revenue procedures and notices recently issued by the IRS provide definitive guidance. In this comprehensive, hands-on webinar, an expert will:
- Guide you through the maze of rules and definitions to help you compute tax deductions and prepare the various tax forms, schedules and worksheets
- Help you apply the rules for rental real estate
- Share a host of planning strategies to help business owners and pass-through entities maximize the tax benefits
This course qualifies for IRS Continuing Education Credit.
Objective
To provide CPAs and other financial professionals with an in-depth examination of Section 199A, and guidance on applying IRS final regulations and revenue procedures on computations and deductions of qualified business income for sole proprietors, partnerships, S corporation shareholders, qualified real estate investors, trusts and estates. This webinar will also enable you to identify when rental real estate is entitled to the Section 199A deduction.
Emphasis
- Treatment of rental real estate for Section 199A Deduction—Notice 2019-07
– Requirements to be treated as a trade or business
– Rental services
– Not rental services
– Excluded rental arrangements - In-depth analysis of the final Section 199A regulations
- Computing the Section 199A Deduction
– Formulas and examples - Reporting by flow-through entities
- Examination of definitions
- Negative QBI amount, netting and carryover rules
- W-2 wages and UBIA
– Who are employees for
W-2 wages?
– Revenue procedure 2019-11 - Allocation of items among directly conducted trades or businesses
- Required tax return disclosure
- Specified service trades or businesses
– Review of examples explaining definitions and computations
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