IRC 199A: 2 Years In – Key Overlooked Planning Initiatives

4.8 (4)

Nicholas Preusch, CPA

PBMares, LLP

Wednesday, August 05, 2020 | 10:00 AM EST

  • CPA
  • EA
  • CTEC
  • TAX PROS
  • PFS
  • AFSP

Credits: 2 CPE | 2 CE

$20

Subject Area

Taxes

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Course Description

The passage of Section 199A in the 2017 tax overhaul legislation was a watershed moment for tax advisers and compliance professionals. Indeed, the reach of the provision is proving to be so extensive as to constitute a separate and distinct practice area for tax practitioners, as advisers face an increased need for statute-specific competence on the workings of Section 199A.

The framework of Section 199A is straightforward: Taxpayers who are owners of pass-through businesses can claim a deduction of up to 20% of their share of the net business income of their business. The Section has created a significant benefit to the approximately 60 million taxpayers who are shareholders and members of pass-through entities.

In this practical webinar, you will learn the ins and outs of IRC 199A. This refresher course will look at the must need to know information about IRC 199A to make sure you are calculating all the different moving parts correctly. 

Highlights of the webinar :

  • Calculating QBI
  • Calculating UBIA
  • Calculating W-2 Wages
  • Determine new updates to IRC 199A since the final regulations were released
  • Outline the ins and outs of the deduction

Learning Objectives

  • To recall how QBI is calculated
  • To recall how UBIA is calculated
  • Identify the methods to calculate QBI wages
  • To recall the newest updates to 199A
  • To identify the nuances of the deduction

Who Should Attend?

  • Enrolled Agent
  • Tax Attorney
  • Tax Practitioners
  • Accountant
  • Accounting Firm
  • Tax Pros
  • Tax Firm
  • Tax Accountant (Industry)
  • Accounting Practice Owners
  • Senior Accountant
  • Accounts Director
  • Entrepreneurial Accountant
  • Tax Managers
  • Accounting Managers
  • Tax Preparer

Testimonial

4.8

(4)
75%
25%
0%
0%
0%

JM

Accounting and income tax preparation are my areas of expertise. I enjoy being an attendee of any webinars and tax events designed to add value to my business. This webinar was a good resource to meeting that objective.

KT

This very difficult and important subject was well presented by an extremely knowledgeable person. I appreciate all the programs available from Excel Accountant and try to attend as often as I can. I also like the self study options.

MI

I appreciated the explanation of the Oil & Gas investments being exempt from the passive activity rules. In previous 199A presentations, Oil & Gas investments were briefly mentioned along with retirement plans as ways to get around the income limitation, but not explained in the level of detail that was presented today.

EH

This was my 2nd time to tune-in this presentation. To my surprise, his slides and presentation were both updated with the latest changes including just passed. I appreciate his professionalism and detailed accurate in.formation to pass onto us. Thank you