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Everything you need to know: QBI

  • Accountant
  • AFSP
  • CRTP
  • CGFM
  • CPA (US)
  • EA
  • ORTP
  • CPA/PFS
  • ChFC
  • MRTP
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

As a small business owner, tax deductions are always welcome. But, deductions aren’t static. Deductions change over time, and some go away completely. Or, in the case of the Section 199A deduction, new deductions are added.

If you are self-employed or own a small business, you're probably looking at every possible way you can ethically and legally reduce your tax payments. While deductions for expenses like tax preparation and your home office can make a big difference, you may be missing one of the biggest deductions for small business owners - the qualified business income (QBI) deduction.

The qualified business income (QBI) deduction, also known as Section 199A has arguably been one of the most talked-about tax breaks included in the Tax Cuts and Jobs Act. Taxpayers who qualify for it can claim up to a 20% deduction on qualified business income (QBI) for businesses operated directly by the taxpayer or through a pass-through entity.

In this online continuing education course, we cover the application of section 199A, Qualified Business Income ("QBI") the deduction, as it applies to SSTBs. 

Following are the major topics covered in this CE/CPE Tax webinar:

  • How the calculation of QBI works? 
  • Looking in-depth at what is and what is not an SSTB. 
  • Different parts of the regulations look at how to properly optimize the deduction so your client can get the most out of it. 
  • Different pitfalls and issues will come up when using the deduction.

This CPE webinar by Nicholas Preusch will go into everything you need to know about QBI.

Learning Objectives

  • To determine which businesses are SSTB.
  • To analyze how to disclose to the IRS if an entity may be in an SSTB grey area.
  • To explore how entity structure will change your SSTB calculations.
  • To determine UBIA and W-2 wages and their impact on QBI.
  • To explain misc. SSTB provisions.

Recommended For

  • This CE/CPE Course is recommended for CPA, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, and other Tax Professionals who want to understand everything about Qualified Business Income (QBI).

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 8 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 8 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0965)
  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01168-22-O)
  • 8 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01168-22-O)
  • 8 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01168-22-O)
  • 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 8 CE Credit for Certified Wealth Strategist (CWS)
  • 8 CPE Credit of Taxes for Certified Government Financial Manager (CGFM)
  • 8 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 8 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 8 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 8 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 8 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 8 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 8 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

Presenter

About Presenter

Nicholas Preusch

Certified Public Accountant (CPA), Nicholas Preusch

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

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

3.8

4 Ratings

Excellent

1

Very Good

2

Average

0

Poor

1

Terrible

0

RM

Ray Magnuson, EA

Aug 5th, 2022

I was very disappointed in today's session. The instructor may be very good with his knowledge but I felt his knowledge didn't transfer to me. He had numerous examples but there didn't appear to be a handout for the course. Many of his examples were complex and similar to each other with slight but important changes between slides. But not being able to refer to the slides either as he went through his presentation or afterwards was a great disappointment. Luckily for me the clients that I see don't have as complex QBI cases as he demonstrated in his program. I found his slides very hard to read because there was next to no spacing between lines on the slides. And all the sentences ran together; clarity would have been increased if there had been some breaks in the paragraphs. I expected a little more professionalism in his dress. A simple dress shirt would have been more appropriate than what appeared to be a t-shirt.

Everything you need to know: QBI

PREMIUM

8 Credits

Subject Area

Taxes

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