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Course Description

This webinar focuses on the application of the IRC Section 199A deduction as it pertains to clients who own rental real estate. For clients who own rental real estate, the IRS has provided guidance with a safe harbor under Notice 2019-07.  The grouping rules here are quite different from the grouping rules under IRC Section 469. Planning opportunities, as well as pitfalls, will be discussed. Any late-breaking developments in this area will also be discussed in this webinar. The IRS issued a long-awaited safe harbor for when real estate rental qualifies as a trade or business for purposes of the 20% deduction for qualified business income under IRC § 199A.

In this webinar, we will review the rules for rental under Code § 199A and explain how the new safe harbor fits into the framework. We will explore a smattering of recent developments in partnership tax, such as final regulations discussing employee vs. partner in tiered structures, the nature of interest expense when a partnership interest changes hands, and the effect of changes on the inside basis when an interest in a tiered structure changes hands. Finally, we will discuss the income taxation of intellectual property and other intangibles in light of the 2017 tax reform.

Learning objectives

  • Strategy for qualifying real estate rental as a trade or business under IRC § 199A independent of the safe harbor.
  • How the new safe harbor for real estate changed from its proposed terms and the extent to which the safe harbor helps.
  • How recently finalized regulations treat compensatory payments from disregarded entities to partners in the parent partnership.
  • What those regulations intentionally did not address that provide opportunities for tiered partnership structures.
  • How to determine the deductibility of interest expense incurred by a partnership and how distributions from a partnership affect that determination.

About Presenter

Steve Gorin, CPA

Advisor, Thompson Coburn LLP

sgorin@thompsoncoburn.com

Steve has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also drafted organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies. 

Steve enjoys helping clients structure their affairs to achieve their achieve their personal, business, and financial goals while trying to reduce the drag that taxes impose on them. His firm provides full service to businesses; however, he also act as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefer to refer income tax returns to practicing CPAs.

Steve Gorin is former president and an ongoing contributor to strategic initiatives of Covenant Place, a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives. 

To know more about Steve Gorin, kindly click on the link below:

http://thompsoncoburn.com/people/steve-gorin



For almost 90 years, Thompson Coburn LLP has provided the quality legal services and counsel our clients demand to achieve their most critical business goals. With more than 380 lawyers and 40 practice areas, we serve clients throughout the United States and beyond. Whether helping with a real estate or employment issue, navigating a complex acquisition or defending a product or service in litigation, we have the knowledge and resources to meet any legal need.

Here's a link to the free resources that Thompson Coburn has to offer:

https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about

FAQ

  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete webinar and respond to all polling questions asked during the webinar. CPE is issued on 50 minute credit hour basis.
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you are Canadian Chartered Professional Accountant (CPA) many of our courses qualifies for your verifiable CPD requirements you will get your certificate for the program. You can check a tab of “Webinar Qualifies for” for the same.However please do verify with respective regulatory body about the eligibility for the same.
  • Many of our courses are approved by “CFP Board” for CE credits of certified financial Planner(CFP). Please check a tab of “Webinar Qualifies for” to verify whether webinar qualifies for CE credits for CFP or not.

Refund/Cancellation Policy

For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128

In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).

Reviews

4.1
(292)
40%
38%
16%
4%
2%
  • ET
    Erin Thunander , CPA
    Nov 25th 2019
    This course really gave me a lot of information in a short period of time. Condensed but not too heavy. Clear and well presented. At no point was I bored or feeling like he rushed too quick
MV
Magaly Villa
Great class
SE
Scott Eidson
GREATPRESENTATION, INFORMATIVE AND ENTERTAINING
IF
IMELDA FLORES
Awesome
DH
Donnie Holmes
The information was presented at a reasonable pace. The displays were easy to read, very informative and answered any questions, which came to mind . Also, really love the manual and the wealth of information provided
RB
Robert Blair , CPA
The presenter was very lively and gave us many examples of issues to help show us the material in a way we can apply it. Steve explained so we could easily understand the subject matter.

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

IRS Approved

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MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary

CTEC Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

upcoming Live CPE Webinars

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Excel Tips & Tricks: For every Accountant, CPA, Bookkeeper, Tax Professional, Auditor & Controller
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  • Cost FREE
  • CPE Credits 1.5
  • CE Credits 1
  • IRS Course ID GEHNZ-T-00090-19-O
  • CTEC Course ID 6273-CE-0108
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method group internet based
  • Prerequisites None
  • Advanced Preparation None
  • Who should attend? Enrolled Agent Finance Pros Tax Attorney Tax Practitioners Accountant Others CPA - Small Firm CPA - Mid Size Firm Accounting Firm Tax Pros CPA (Industry) Auditors Tax Firm Young CPA CPA in Business Entrepreneurial CPA Outsourced CFO Tax Accountant (Industry) Tax Director (Industry) Accounting Practice Owners Finance Director Entrepreneurial Accountant
  • Handout Material Download

upcoming Live CPE Webinars

Best Workshop on S Corporation (Form 1120S) Tax Return Review & Case Study (NEW)
Thursday, October 29, 2020 | 10:00 AM EDT View Details/Register
Tax Updates Latest (Business & Payroll)
Thursday, October 29, 2020 | 10:00 AM EDT View Details/Register
How To Accurately Prepare the 709 Gift Tax Return
Thursday, October 29, 2020 | 10:30 AM EDT View Details/Register
Credit cards in QBO - Seamless Payments from Client
Thursday, October 29, 2020 | 10:30 AM EDT View Details/Register
Practical Guide to IRAs – Contributions & Distributions for Traditional, Roth, SEP & SIMPLE IRAs
Thursday, October 29, 2020 | 08:00 AM PDT View Details/Register
SEC Enforcement of Accounting and Reporting Regulation
Thursday, October 29, 2020 | 11:00 AM EDT View Details/Register
Complete CFO Guide on Analytics,Corporate Performance Management,Budgeting,Reporting
Thursday, October 29, 2020 | 08:00 AM PDT View Details/Register
Practical Guide To Fraud 2020: Including Cash, Inventory & General Frauds
Thursday, October 29, 2020 | 08:00 AM PDT View Details/Register
Incapacity planning guidelines for financial professionals
Thursday, October 29, 2020 | 11:00 AM EDT View Details/Register
INTRO TO ACCOUNTINGSUITE™ & MULTI-CHANNEL INVENTORY
Thursday, October 29, 2020 | 12:00 PM EDT View Details/Register
Is It Deductible: Commonly Asked IRS Deductions (UPDATED 2020)
Thursday, October 29, 2020 | 12:30 PM EDT View Details/Register
Excel Tips & Tricks: For every Accountant, CPA, Bookkeeper, Tax Professional, Auditor & Controller
Thursday, October 29, 2020 | 01:00 PM EDT View Details/Register
TAX PRACTICE STANDARDS (ETHICS)
Thursday, October 29, 2020 | 01:30 PM EDT View Details/Register
W-8 & 1042-S Regulatory Compliance Update (Nonresident Alien Reporting)
Thursday, October 29, 2020 | 02:00 PM EDT View Details/Register
Intro to OnPay: The New Standard in Payroll for Accountants
Thursday, October 29, 2020 | 02:00 PM EDT View Details/Register