Author: Bradley Burnett
||4 hours for CPAs
The §199A passthrough deduction cuts non-C Corp income tax rates to the lowest in 3 decades, but only for those eligible. Some higher (and lower) income taxpayers are aced out or trimmed back. Join us to learn how to make the most of the new 20% pass-through deduction.
Publication Date: June 2020
CPAs and other interested persons desiring to learn the latest tax planning opportunities and traps under TCJA.
- Complex new pass-through entity deduction (QBID) clearly explained
- Is the definition of "specified service business" (SSB) the monster it appears to be?
- Lasso income, wages and property into the right spots & maximize QBID
- What is the taxable income limitation — How to avoid its harsh impact?
- Why wages and property may be important in each business
- Aggregating - When you can, cannot, and how you must report (and continue to report)
- Winners, losers and the newly perplexed (how to help them all)
- Identify cutting edge tax planning opportunities and pitfalls under the Tax Cuts Jobs Act for the §199A deduction available to partnerships, S Corps, sole proprietorships, trusts and estates
- Recognize which types of organizations are ineligible for QBID
- Describe what is primarily impacted as a result of QBID
- Identify categories of performing arts included within the SSTB requirement with respect to the limit on QBID
- Recognize required disclosures relating to aggregated businesses
- Describe which top tax rate remained unchanged as a result of the TCJA
- Identify the five loss limitation hurdles
- Describe where aggregation is permitted based on final regulations
Field of Study
Taxes (4 hours)
A basic understanding of TCJA.