199A & Rental Real Estate: Qualifying Without The Safe Harbor

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • MRTP
  • CFIRS
  • CWS

Published: November, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Section 199A History
    3 mins
  • Self-Rentals
    10 mins
  • Section 162 & The Supreme Court
    22 mins
  • Less than 250 Hours Per Year
    31 mins
  • Facts & Circumstances
    45 mins

Course Description

The 199A deduction has arguably been one of the most talked-about tax breaks included in the Tax Cuts and Jobs Act. Taxpayers who qualify for it can claim up to a 20% deduction on qualified business income (QBI) for businesses operated directly by the taxpayer or through a pass-through entity. For rental property owners, this can be a particularly valuable benefit.

Yes, you read that correctly. As a rental property owner, it’s possible you could qualify for the 199A deduction if you meet certain requirements. Your ability to qualify also depends on the facts and circumstances of your situation.

In this online continuing education course, we cover the application of section 199A, Qualified Business Income ("QBI") the deduction, as it applies to rental real estate.  We cover qualifying using the Safe harbor method, why that method may not work for all taxpayers, and how to qualify without using the Safe harbor method. 

Section 162(a) allows a deduction for all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business. The rental of a single property may require regular and continuous involvement such that the rental activity is a trade or business within the meaning of section 162.

In this online webinar, we will discuss the support for qualifying rental real estate as a Section 162 trade or business and both good and bad fact patterns to help determine whether a venture qualifies.

Key topics covered in this online CPE webinar:

  • Section 199A the deduction, Qualified Business Income Deduction
  • Is the rental property eligible for the QBI deduction?
  • Understanding the calculations
  • Rental real estate arrangements excluded from 199A treatment
  • What if you don’t meet the safe harbor requirements
  • Section 162 trade or business

Click here for more webinars on | Tax Planning | Tax Updates |

Learning Objectives

  • To explore Section 199A (QBI deduction) application to rental real estate
  • To discuss using the rental real estate safe harbor method
  • To discuss how rental real estate may qualify as a Section 162 trade or business
  • To explore relevant case law and

Recommended For

  • This CE/CPE Online course is for CPA & Enrolled Agent who are Involved in Tax Planning for their clients
  • This Online webinar is recommended for all the CPAs and tax professionals interested in knowing how Rental Real Estate deduction can be claimed without qualifying for safe harbor requirements

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00535-21-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0516)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00535-21-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00535-21-S)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Kasey Pittman

Certified Public Accountant (CPA)

Kasey is a CPA, licensed and practicing in Virginia who has over a decade of public accounting experience.  Kasey specializes in emerging tax legislation and tax planning and compliance for closely held companies. She is well-versed in elaborate investment portfolios and multi-state tax filings.

Kasey is a renowned thought-leader in the accounting industry through her authorship on emerging and complex tax issues, and presenting on a wide variety of tax topics.

She graduated magna cum laude with a Bachelor's degree in Accounting from The College of William and Mary and summa cum laude with a Masters of Science in Accounting in Tax Services from the University of Notre Dame.


About Company

PBMares, LLP

www.pbmares.com/

PBMares is a Certified Public Accounting and consulting firm focused on serving the audit, tax, accounting and consulting needs of companies and individuals. Founded in 1963, with 12 offices across Virginia, Maryland, Northern Virginia, and North Carolina, PBMares represents companies ranging from closely-held private businesses to leading non-profits to Fortune 500 multinationals. PBMares has industry practices specializing the construction, financial institutions, government contracting, healthcare, insurance, manufacturing, not-for-profit, real estate, restaurant, retail, state & local government and technology sectors. Its services include cybersecurity, cloud accounting, wealth management and transaction advisory services. PBMares is an independent member of the RSM US Alliance and is perennially ranked  among the Top 100 accounting firms across the United States. More information is available online at www.pbmares.com.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.7

23 Ratings

Excellent

15

Very Good

8

Average

0

Poor

0

Terrible

0

JK

James Koon, EA

Jan 6th, 2022

Kasey presented a linear and reasoned approach to a scenario that still is argued amongst even some of the most seasoned credentialed tax preparers. Bravo! Looking forward to taking more of her courses.

LZ

Leona Zanders, EA

Dec 14th, 2021

Very clear instructions. Great points and details about what qualifies and what don’t. Short and straight to the point.

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