Section 199A Update (Basic Overview)

4.6 (1154)

Jason Dinesen, EA

Dinesen Tax & Accounting, P.C.

Tuesday, March 02, 2021 | 12:00 PM EST

  • AFSP
  • CPA
  • CVA
  • EA
  • Tax Pros
  • CTEC
  • CFE

1 CPE | 1 CE

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit for Certified Fraud Examiners (CFEs)

1 CPE credit of Taxes for all CPAs

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

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

1 CE credit of Federal Tax for Maryland Tax Preparers

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

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Update for Oregon Tax Preparers

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

The qualified business income (QBI) deduction under Sec. 199A brought issues that ranged from learning and understanding the new Code section to simply making sure the tax software was calculating the deduction correctly. IRC 199A, the new 20% of qualified business income deduction, is the best new tax deduction from the Tax Cuts and Jobs Act. The deduction has a lot of complexities to it, and without proper knowledge of how the deduction works, taxpayers can see large penalties and taxes due. 

The IRS has processed its final regulations on IRC 199A, so practitioners now have more clarity on the different intricacies for the deduction. These create amazing tax opportunities for business owners to increase their deductions to continue to save on their taxes.

This free CPE/CE webinar will look at all the different scenarios involved when calculating the IRC 199A deduction. It includes :

  • Different ways practitioners and taxpayers can protect themselves from some of the more grey areas involved with the 199A deduction.
  • What new info, opportunities, and requirements do these new forms and guidance throw at our feet?
  • What does it mean for tax returns claiming QBID?

Take our all-new, fresh look CPE webinar and learn to command the topic.

Learning Objectives

  • To recall what is a qualified business income and whether disclosures are needed for 199A deduction
  • To identify updates with the final regulations to the 199A deduction
  • To identify ways of calculating W-2 wages
  • To identify ways of calculating the 20% IRC 199A deduction
  • To identify ways of calculating UBIA

Who Should Attend?

  • Tax Attorney
  • Tax Practitioners
  • Bookkeeper
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Pros
  • CPA (Industry)
  • Tax Firm
  • Young CPA
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Managers
  • Accounting Managers
  • Tax Preparer

Testimonial

4.6

(1154)
67%
28%
4%
0%
0%

LC

great!

PT

NONE

RRM

This is the first webinar concerning taxes that I attended. Some pretty useful information was shared. Although I may not use it immediately, it is very helpful to know.

CYC

It is a very good class. Thanks.

EG

Jason is one of the best instructors. He is very clear and concise and slightly witty. I love hearing him speak. Can't wait to take the more advanced course.

MB

great