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
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.
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
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.
About Presenter
Nicholas Preusch, CPA
Certified Public Accountant (CPA), YHB | CPAs & Consultants
Nicholas has worked with the Internal Revenue Service as a
Revenue Agent and an Attorney with the IRS Office of Professional
Responsibility. Nicholas has authored publications for the AICPA’s Journal of
Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of
Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer
Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas
has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of
the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor
at the University of Mary Washington. He is a graduate of Carthage College,
University of Connecticut (M.S. in Accounting), Case Western Reserve University
School of Law (J.D.), and Georgetown University (LLM in Taxation).
FAQ
myCPE self-study courses are online.
The self-study format allows you to access the material online 24/7 and study at your own pace.
As per NASBA guidelines, you have one year from date of registration to complete each program.
Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
These are Live recorded presentations converted into Self Study (On-Demand Videos).
Refund/Cancellation Policy
For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
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Testimonial
4.8
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Hiep Tran, EA
Nov 9th 2020
This is a complex calculation, having to take into account multiple factors. I am not a licensed tax preparer, this was for my own personal tax preparation. I understand it much better now and can prepare my own 199A deduction but I still had trouble arriving at the right conclusion for the exam. This was well worth the small fee to take the course
LM
Lisa Manning, CPA
Nov 6th, 2020
The overview was brief but very insightful. Enough to give you a heads up to problem areas and where you will need to dig deeper for more knowledge. I love the pdf of the course so I could focus on the lecture rather than taking notes! Great 1 hour CPE course that exceeded my expectations
RF
Rochelle Fogg, , CPA, Tax Pros
Oct 14th, 2020
There is much food for thought in this webinar, and practitioners will have their work cut out for them to assist clients in the months to come, This webinar will assist practitioners in helping their clients to strategize how to benefit the most from Nicholas.
JM
Jerome Mathes, , EA
Aug 5th, 2020
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
Kevin Taunton, CPA
Aug 5th, 2020
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
Mark Imowitz,
Aug 5th, 2020
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.
