Section 199A: Applications and Challenges in 2019
101 | TSCPA In Person Events | Basic | Scheduled
Section 199A is easily the least understood topic of The Tax Cuts and Jobs Act. Your clients will look to you for explanations and best practices to maximize the 20% deduction. Pass-through entities and real estate investors stand to gain valuable tax cuts, and the average practitioner cannot afford to be uninformed on Section 199A. This course will cover all relevant facets and nuances of the deduction and enable implementation for tax returns. This program will include all IRS-issued guidance.
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A basic understanding of the Federal tax rules relating to individuals and businesses
* Latest guidance issued by the IRS, whether by way of regulations or administrative announcements
* What happens when the taxpayer owns multiple entities; aggregation rules
* Calculating qualified business income (QBI)
* How to identify a specified service trade or business
* Taxable income limits on specified service trade or businesses
* Maximizing the 20% deduction for pass-through entities and Schedule Cs
* What happens if QBI for a given year is negative?
* Whether a particular tax entity offers a greater Section 199A deduction
* Whether the owner of a Schedule E with net rental income can claim the Section 199A deduction
* Understand how the 20% deduction for pass-through entity owners works
* Implement the benefits of this deduction for income tax returns
- Member (Early Bird)
- Non-Member (Early Bird)
Susan Smith, CPA
Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences.
Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.7 on a scale of 5.0. Also, she recently received the James L. McCoy 2008 Discussion Leader of the Year Award for excellence in teaching.
Smith earned her Bachelor of Business Administration degree, with an accounting concentration, from the University of Toledo.Back to Facilitators