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.
How can you maximize the qualified Business Income Deduction?
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.
The Qualified Business Income Deduction and Rental Real Estate-Making Sense of It All
In this Online CPE/CE course, you will learn the ins and outs of IRC 199A. This refresher online CPE 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. <