UBIT Under The TCJA

Nicholas Preusch, CPA

YHB | CPAs & Consultants

  • AFSP
  • CPA Canada
  • CPA
  • EA
  • Tax Preparer
  • Oregon Tax Preparer
  • CTEC

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.

Overview

  • Trade or Business
    14 mins
  • Characteristics of a Trade or Business
    16 mins
  • Losses
    18 mins
  • Substantially Related
    21 mins
  • Regularly Carried On
    28 mins
  • Exceptions
    34 mins
  • Debt-Financed Property
    41 mins

Course Description

This webinar will give you an overall idea about the UNRELATED BUSINESS INCOME TAX (UBIT) and the related issues. The UBIT on income earned from both operating businesses and investment activities applies to all organizations exempt from tax under Internal Revenue Code Sec. 501(c), as well as public colleges and universities and qualified and non-qualified retirement plans. 

In this webinar we will examine the changes made by The Tax Cuts and Jobs Act, including guidance issued to date, guidance on the ability to offset UBIT loss activities against those generating positive unrelated business taxable income and changes to net operating loss rules. 

This webinar gives a general idea of what is unrelated business income. It also focuses on how to tell if income streams are related or unrelated to the non-for-profits mission along with the other rules that could exempt the income from this category. It will tell how to calculate the unrelated business income tax under the Tax Cuts and Jobs Act. We will also look at ways to minimize the impact of the TCJA on not-for-profits. We will also cover other changes for non-for-profits under the TCJA that each non-for-profit should be aware of.

Highlights of the webinar : 

  • General understanding of what is unrelated business income.
  • Calculating the unrelated business income tax under the Tax Cuts and Jobs Act. 
  • Minimize the impact of the TCJA on non-for-profits.
  • Changes for non-for-profits under the TCJA that each non-for-profit should be aware of.

Learning Objectives

  • To recall what is Unrelated Business Income (UBI)
  • Be able to calculate the Business Income Tax
  • To identify what FUBIT (Fake Business Income Tax) is
  • To identify ways of minimizing the impact of FUBIT
  • To identify the other changes affecting UBIT

Who Should Attend?

  • Bookkeeper
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA