May 17, 2019

In-Person

Alabama Society of CPAs
1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

4 Total CPE Credits

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Section 199A: Applications and Challenges in 2019 Guidance

  • Instructor

    Michael Frost

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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Learning Objectives

  • Understand how the 20% deduction for pass-through entity owners works
  • Implement the benefits of this deduction for income tax returns

Major Topics

  • 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

CPE Credits Available

4
Total CPE
4
Taxes

Alabama Society of CPAs

1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

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Things to Know About This Course

Course Level

  • Update

Professional Area of Focus

  • Tax

Prerequisites

A basic understanding of the Federal tax rules relating to individuals and businesses

Advanced Preparation

None

Intended Audience

Any tax practitioner wishing to understand and apply the 199A deduction

Provider

Surgent McCoy CPE

This event has ended.