The Tax Cuts and Jobs Act (TCJA) was a major overhaul of our tax system that has lowered the income tax rates for individual and corporate taxpayers and introduce a new 20% deduction for qualified business income (QBI) for sole proprietors and pass-through entities. The cornerstone of this online continuing education E-Book course is the comprehensive discussion of the newly enacted 20% QBI deduction regulations under IRC §199A and other TCJA income tax provisions affecting individuals and businesses.
This 8 hours online CPE E-Book Course also includes qualified business income deduction and newly issued regulations under IRC §199A. In addition, the online CPE E-Book course will review many other income tax provisions affecting the QBI deduction calculation with an emphasis on newly enacted income tax regulations, IRS notices, and revenue procedures.
This Online Tax E-Book Course for CPAs, EAs, AFSPs and Other Tax Professionals covers the following major key topics:
- Detailed coverage of calculating the combined qualified business income amount (i.e., QBI component and REIT/PTP component)
- Determine what trade or businesses under §162 are eligible for the QBI deduction (i.e., rentals and specified service trades or businesses (SSTB))
- Discuss how the 20% QBI deduction (i.e., QBI component) is subject to a wage/capital limitation and SSTB income is phased out for taxpayers with taxable income above the inflation-adjusted threshold amounts
- Walk through the simplified QBI Form 8995 (i.e., taxpayers below the TI threshold amounts) and detailed Form 8995-A and related schedules
- Determine what wages and the unadjusted basis immediately after acquisition (UBIA) are for those subject to the wage and capital limitations
- Look at what the definition of QBI is and what items are effectively connected with that trade or business (i.e., self-employment tax, health insurance, retirement plans)
- Review the aggregation rules for the QBI computation and both the entity and individual level
- Walk through the reporting responsibilities of partnerships and S corporations to their owners on the Schedule K-1s
- Explain how the modifications to the net operating losses (NOLs) and §461(l) excess business loss limitations affect the QBI computation
J. Patrick Garverick is one of the most admired and best-reviewed Tax Speakers in the country and we are offering the classes at a much-discounted price. His courses have been best-reviewed by audiences for:
- Quality of Content
- Relevance and Practical Case studies
- Best Teaching Approach
- Best Course Material
Awards and Accolades
- Award for Instructor Excellence for California Education Foundation
- Award for Outstanding Course materials for California Education Foundation.
- Rated top tax instructor in nearly every location he has presented
- One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge.
The E-Book is copyright protected.
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- To recall the newly enacted 20% QBI deduction regulations under IRC §199A.
- To identify the new TCJA income tax provisions affecting individuals - business clients, colleagues, and employees.
- To identify the new TCJA income tax provisions affecting businesses.<