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.