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Qualified Business Income Deduction - Everything You Need to Know

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • Maryland Tax Preparer
  • MAFF
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

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.

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

Does rental real estate (RRE) qualify for the §199A deduction? When is a rental property a trade or business (T or B)? Does it matter? What if the rental has a net income? A loss? All of these questions have caused much confusion since the Sec. 199A Qualified Business Income Deduction (QBID) was announced as part of the Tax Cuts and Jobs Act of 2017.

The answers to these questions and more will be provided by experienced instructor Nicholas Preusch in this two-hour tax CE course.

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. <