SECTION 199A UPDATE

4.6 (877)

Jason Dinesen, EA, LPA

Dinesen Tax & Accounting, P.C.

  • CPA
  • EA
  • CTEC
  • TAX PROS
  • AFSP

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

Overview

  • Defining QBI3 mins
  • QBI Calculation9 mins
  • Understatement Penalty16 mins
  • Unmodified Box Method23 mins
  • Specified Service Businesses35 mins
  • How Rental Property is Taxed43 mins

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

Testimonial

4.6

(877)
66%
29%
4%
0%
0%

RB

N/A

JD

This was a good summary of the subject

MS

Great presentation. Relevant information

DK

Was a topic that I was interested in

TJD

As usual, presenter Jason Denison did a great job. He was well-informed and used clear and concise descriptions along with humor to make his points. I’m sure that I can use the information from this webinar in my capacity as a tax consultant.

RK

Very good