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Qualified Business Income (QBI) Deduction (IRC §199A) Detailed Study, Analysis,Calculations,Case Studies, Ins & Outs (Latest)

4.7 (28)

J. Patrick Garverick, CFP, CPA (US)

The Garvs, LLC

Tuesday, July 06, 2021 | 08:00 AM PDT

  • AFSP
  • CPA (US)
  • CVA
  • EA
  • Tax Preparer
  • CTEC

8 Credits

$120

Subject Area

Taxes

Webinar Qualifies For

8 CPE credit of Taxes for all CPAs

8 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00249-20-O)

8 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0257)

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

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

8 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00249-20-O)

8 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00249-20-O)

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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This Course is Also Available in Self Study (On-Demand)

Click Here

Additional Dates

Aug 03, 2021 | 09:00 AM EDT Register
Aug 17, 2021 | 12:00 PM EDT Register

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 the comprehensive discussion of the newly enacted 20% QBI deduction regulations under IRC §199A and other TCJA income tax provisions affecting individuals and businesses.

This 8 hours online CPE webinar also includes qualified business income deduction and newly issued regulations under IRC §199A.  In addition, the online CPE course will review many other income tax provisions affecting the QBI deduction calculation with an emphasis on newly enacted income tax regulations, IRS notices, and revenue procedures.

This Online Tax Webinar for CPAs, EAs, AFSPs and Other Tax Professionals covers the following major key topics: 

  • Detailed coverage of calculating the combined qualified business income amount (i.e., QBI component and REIT/PTP component)
  • Determine what trade or businesses under §162 are eligible for the QBI deduction (i.e., rentals and specified service trades or businesses (SSTB))
  • Discuss how the 20% QBI deduction (i.e., QBI component) is subject to a wage/capital limitation and SSTB income is phased out for taxpayers with taxable income above the inflation-adjusted threshold amounts
  • Walk through the simplified QBI Form 8995 (i.e., taxpayers below the TI threshold amounts) and detailed Form 8995-A and related schedules 
  • Determine what wages and the unadjusted basis immediately after acquisition (UBIA) are for those subject to the wage and capital limitations
  • Look at what the definition of QBI is and what items are effectively connected with that trade or business (i.e., self-employment tax, health insurance, retirement plans)
  • Review the aggregation rules for the QBI computation and both the entity and individual level
  • Walk through the reporting responsibilities of partnerships and S corporations to their owners on the Schedule K-1s
  • Explain how the modifications to the net operating losses (NOLs) and §461(l) excess business loss limitations affect the QBI computation

J. Patrick Garverick is one of the most admired and best-reviewed Tax Speaker in the country and we are offering the classes at a much-discounted price during the pandemic. His courses have been best-reviewed time and again 

  • For Quality of Content
  • For Relevance and Practical Case studies
  • For Best Teaching Approach
  • For Best Course Material


Awards and Accolades

  • Award for Instructor Excellence for California Education Foundation
  • Award for Outstanding Course materials for California Education Foundation.
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 


After registering for this webinar you will get Free E-Book worth $200. The book would be emailed to you, a day before the webinar on your registered email address on myCPE. The book is copyright protected.

Click for other online CPE/CE courses:

Latest Tax Updates CE Webinars

AFSP CE Package (Incl. AFTR Course and Ethics)

EA CE Package (Incl. Federal Tax Updates and Ethics)

Package for Tax Practitioners (Incl. 2 hours Ethics)

Learning Objectives

  • To recall the newly enacted 20% QBI deduction regulations under IRC §199A.
  • To identify the new TCJA income tax provisions affecting individuals - business clients, colleagues, and employees.
  • To identify the new TCJA income tax provisions affecting businesses.
  • To accurately calculate the newly enacted QBI deduction to their clients, colleagues and employees.
  • To accurately report the newly enacted QBI deduction to their clients, colleagues and employees.

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

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    [average] => 4.6786
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4.7

(28)
68%
32%
0%
0%
0%

KC

This was a wonderfully creative approach to 199A, and in particular, how to think about returns that have multiple QBI activities. I especially liked the reminders that need to be kept in mind if you might want to aggregate activities. Thanks for the presentation.

AH

Very good presentation. However, we needed more time - another half hour would have been sufficient. Knowledgeable speaker - liked the way he presented the material - in a personal way - warriors, etc. Enjoyed the presentation.

AC

I really enjoyed the presenter and his materials. The information was presented in an interesting manner, with a unique understandable perspective, that added to my understanding of the issues. Definitely worth the time spent

MC

Excellent presentation both n delivery and content. I do have one question. Why is it that when Congress passes comprehensive tax legislation, it makes tax law more difficult to understand? I refer you to the 1986 tax act and the 2017 tax act. Perhaps, it is trying to create the accountant's and tax lawyer enrichment fund?

JP

Great

RP

All My-CPE webinars I have taken in he past year are great. However, figuring out how to give feedback or ask questions during the webinar remains a mystry to me.