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

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

8 Credits

$80

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-S)

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 for Maryland Tax Preparers (Approval No. GEHNZ-U-00249-20-S)

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

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

The topic is also scheduled as live webinar on the following dates

Oct 26, 2021 | 09:00 AM EDT Register
Nov 02, 2021 | 10:00 AM EDT Register
Nov 09, 2021 | 11:00 AM EDT Register
Nov 16, 2021 | 12:00 PM EDT Register

Overview

  • Internal Revenue Code
    13 mins
  • Combined Qualified Business Income Amount
    29 mins
  • Qualified Property Defined
    61 mins
  • Exception for specified service business based on taxpayer's income
    96 mins
  • Deduction Allowed to Specified Agricultural or Horticultural Cooperatives
    133 mins
  • Rental real estate trade or businesses & QBI
    159 mins
  • Legal Information Institute
    210 mins
  • QBI Previously Disallowed Losses
    274 mins
  • Aggregation of Business Operations
    346 mins

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. 

During this webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected.

Click for other online CPE/CE courses: Latest Tax Updates CE Webinars | IRS Audit, Representation, and Resolutions

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 Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA