CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

Qualified Business Income Deduction: Applications and Challenges

  • AFSP
  • CPA (US)
  • CVA
  • CFA
  • EA
  • Tax Preparer
  • CPA/PFS
  • CTEC
QBI Deduction:  Applications and Challenges CPE Course

2 Credits

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00647-21-O)

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0615)

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 PL credit for Chartered Financial Analyst (CFAs)

2 CPD credit (Verifiable) for CPA/PFS

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00647-21-O)

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00647-21-O)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

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Oct 19, 2021 | 03:00 PM EDT View Details

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Oct 20, 2021 | 09:30 AM EDT View Details

QBO: Build Right Chart of Accounts - Base for Accounting and Reading Financial Statement

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Oct 20, 2021 | 10:00 AM EDT View Details

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Course Description

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 course is that it will go beyond the basics of the QBI deductions and take a more advanced look.

This 2-hour CPE/CE course covers the final rules that govern the qualified business income deduction The mechanics of the deduction are not that difficult, but the deduction either phases out or may be limited is taxable income exceeds a threshold amount.

 This area is a source of confusion for many practitioners, especially when a taxpayer's income is high enough for alternate calculations to kick in. This CPE/CE course will help demystify these aspects of the QBI deduction. We'll also talk about specified service businesses, aggregation of entity types, dealing with rental properties and the QBI, and how QBI influences the choice of business entity. We will include case studies and an examination of IRS guidance.

Major topics covered in this online CPE/ CE webinar:

  • An introduction to the QBI deduction
  • Basic examples
  • More-advanced examples using income over the QBI thresholds
  • Dealing with rental property -- is it a business or is it not?
  • Aggregating multiple business ventures for QBI
  • How entity choice impacts the QBI deduction

Learning Objectives

  • To determine how QBI works when income is over the QBI threshold
  • To describe how rental property is treated for tax purposes, and how this impacts QBI
  • To discuss revenue procedure 2019-38 as it relates to rentals and the QBI deduction
  • To discuss the aggregation rules for QBI
  • To identify when aggregation is appropriate and when it is not
  • To identify the issues associated with entity choice and the QBI

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Practice Owners
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant
  • Certified Public Accountant
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Firm
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

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