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The Tax Cuts & Jobs Act: Understand the Mechanics of Section 199A Deduction


August 08, 2018


Daniel J. Pilla

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

Course Field of Study : Tax
Course Program Level : Basic


Reduce Your Clients’ Tax Burden through Creative Strategies around QBI Deduction

The most complex and important provision of the Tax Cuts and Jobs Act 2017 is the new Qualified Business Income Deduction (QBID) called the Section 199A 20% deduction for pass-through entities – such as partnerships, LLCs, S-corporations, and some trusts and estates. The QBI deduction provides big tax breaks for many businesses, but there is uncertainty regarding interpretation and implementation, as the IRS may take some time before providing meaningful guidance. As a practitioner, you need to know exactly how Section 199A works, so that your clients can take advantage of the awesome opportunities this provision offers.

Learn from tax expert Daniel J. Pilla how to reduce your tax burden through creative strategies around the QBI deduction. Daniel will get you up to speed with the terminology associated with the Section 199A deduction, and teach you how to calculate deductions in a range of scenarios – including how to calculate phase-outs for Specified Service Trades or Businesses (SSTBs) and non-SSTBs. You will learn how the deduction could impact entity choice planning, understand the gray areas of the regulation, and know how to help your clients take advantage of the tremendous opportunities the provision offers.

After attending this webinar, you will clearly understand how to calculate Section 199A deductions, and know how to reduce your clients’ tax burden.
Session Highlights: 
  • Overview of the Tax Cuts and Jobs Act
  • Understand the terminology associated with the deduction such as “reduction ratio”, “applicable percentage”, etc.
  • How the phase-outs are calculated for Specified Service Trades or Businesses (SSTBs) as well as non-SSTBs
  • How the Section 199A deduction could impact entity choice planning
  • Compliance requirements for 5 common business entities
  • Positive considerations for each business entity type
  • Negative considerations for each business entity type
  • Common errors in tax planning for each business entity type
  • Special considerations for shareholders/owners of subchapter S corporations
  • What constitutes reasonable compensation for corporate officers
  • How the 20-percent deduction works under new code §199A
Who Will Benefit:
Any person involved in tax preparation or planning for small businesses, including:

  • Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Attorneys
  • Financial Planners
  • Other Tax Preparers

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