Section 199A Deduction – How To Maximize Benefits?

  EVENT DATE

February 13, 2019

  PRESENTER(s)

Daniel J. Pilla

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 120 Minutes




DESCRIPTION



You may be thinking of extracting the full benefits of Section 199A for your clients, but lack of clarity and complexity in this section may prevent you in working to their best interests. While the 2017 Tax Cuts and Jobs Act (TCJA) brought significant changes to 199A, many questions have been left unanswered leading to confusion and ambiguity. Section 199A deductions are also known as Qualified Business Income deduction or pass-through deductions.

Many feel that Section 199A deduction calculations are elusive in scope because of the issues with specified service, trade or business, as well as the various combinations of revenue sources. Section 199A 20% deduction for pass-through entities and real estate investors is by far the most complex provision of the TCJA and optimizing it is no child’s play.

CPAs must know how Section 199A works before helping their clients maximize the amazing advantages this provision offers. Fortunately, on August 8, 2018, the IRS released much needed guidance and the specifics of the terms and calculations in a 200-page document, which is a great help for practitioners and taxpayers alike.

This course with expert speaker Daniel J. Pilla will help practitioners gain the knowledge to help their clients maximize Section 199A deduction using new IRS guidance and guidelines. You’ll learn how pass-through entities can maximize the 20% deduction and learn about the latest updates to the tax code. This session will also provide you with better understanding on topics such as W2 wages, income thresholds, investment limits and eligibility.

Session Highlights:

  • Major updates to the tax code
  • Insights on income thresholds and eligibility
  • W2 wages and investment limits
  • What is a Qualified Business Income (QBI)
  • Ways to maximize your clients’ Section 199A deduction
  • Know how to properly calculate the  199A or pass-through deductions

Who Will Benefit:

  • Certified Public Accountants
  • Attorneys
  • Enrolled Agents
  • Finance and Accounting Professionals
  • Tax Attorneys

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