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IRC 199A Update (UPDATED 2019)

4.1 (372)

Nicholas Preusch

YHB | CPAs & Consultants

Monday, February 03, 2020 | 12:00 PM EDT

  • CPA
  • EA

1 Credit

FREE

Subject Area

Taxes

Upcoming Webinars

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.

IRC 199A, the new 20% of qualified business income deduction, is the best new tax deduction from the Tax Cuts and Jobs Act. The deduction has a lot of complexities to it, and without proper knowledge of how the deduction works, taxpayers can see large penalties and taxes due. 

This webinar will look at all the different scenarios involved when calculating the IRC 199A deduction. It will also look at different ways practitioners and taxpayers can protect themselves from some of the more grey areas involved with the 199A deduction. The IRS has processed its final regulations on IRC 199A, so practitioners now have more clarity on the different intricacies for the deduction. These create amazing tax opportunities for business owners to increase their deductions to continue to save on their taxes.

This webinar will provide partnership tax and business advisers with a useful practice guide to handling the tax compliance and business planning issues for clients under IRC Section 199A.

Learning Objectives

  • What is a qualified business income and whether disclosures are needed for 199A deduction ?
  • Updates with the final regulations to the 199A deduction.
  • How to calculate W-2 wages ?
  • How to calculate the 20% IRC 199A deduction ?
  • How to calculate UBIA ?

Who Should Attend?

  • Accounting Firm
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Attorney
  • Tax Firm
  • Tax Practitioners
  • Tax Pros

Testimonial

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    [no_of_record] => 372
    [average] => 4.1344
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4.1

(372)
47%
31%
16%
3%
3%

WJ

Very good, to the point and informative. Very well organized and presented. Thank You

AW

5 Stars

JR

A great presentation. Informative and concise. Great Job

DF

The presenter was on track and very clear. Every point was relevant and current and concise. Thank you

RM

GREAT INFORMATION IN AN EASY TO UNDERSTAND METHOD

RC

Not up to the mark