Understanding Section 199A: Business Income Deduction
Total Credits: 4 including 4 Taxes - Technical
- Average Rating:
- 195
- Categories:
- ACPEN Industry Institute | ACPEN Tax Institute | IRS Approved | Practice Management | Tax
- Faculty:
- Arthur Werner
- Course Levels:
- Intermediate
- Duration:
- 4 Hrs
- License:
Description
The Tax Cuts and Jobs Act (TCJA) added Internal Revenue Code §199A. This Code section creates “pass-through” rules that allows individuals, estates, and trusts may to deduct up to 20% of their qualified business income from sole proprietorships and pass-through entities. Many of your clients will benefit from this deduction. However, IRC §199A has many vague points which needed clarification. On August 8, 2018, the Internal Revenue Service release proposed regulations on IRC §199A. As a practitioner, you need to understand these proposed regulations in order to best serve the needs of your client.
This course will give the practitioner a thorough understanding of Internal Revenue Code §199A and the recently released proposed regulations. The following is an outline of the course topics:
- Brief overview of Internal Revenue Code §199A
- Understanding the calculation of the 20% pass-through deduction
- Understanding of the term “Specialized Service Trade or Business”
- Potential planning ideas for the client
- Understanding Proposed Regulation §1.199A-1 (Operational Rules)
- Understanding Proposed Regulation §1.199A-2 (Wages and UBIA of Qualified Property)
- Understanding Proposed Regulation §1.199A-3 (Qualified Business Income, Qualified REIT Dividends, and Qualified Publicly Traded Partnership Income)
- Understanding Proposed Regulation §1.199A-4 (Aggregation)
- Understanding Proposed Regulation §1.199A- 5 (Specified Service Trade or Businesses or Business of Performing Services as an Employee)
- Understanding Proposed Regulation §1.199A-6 (RPEs, PTPs, Trusts, and Estates)
- Understanding Proposed Regulation §1.643(f)-1 (Anti-avoidance Rules for Multiple Trusts)
No matter what your experience or skill level is, all practitioners who take this program will find that their ability to understand Internal Revenue Code §199A and the recently released proposed regulations will improve. In addition to attaining a superior comfort level with the pass-through entity deduction and the Internal Revenue Service’s position on IRC§199A, the practitioner will learn how to integrate planning ideas for their clients in this area. As a practitioner, you should not miss this opportunity to improve your ability to expand your practice!
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
Basic Course Information
Learning Objectives- Identifying qualified business income
- Calculate the 199A deduction
- Identify how your clients can maximize the deduction
Major Subjects
- Major changes to the tax code
- Eligibility and income thresholds
- W2 wages and investment limits
Course Materials
| Important CPE Credit Information_READ BEFORE WEBCAST UPDATED (0.47 MB) | Available after Purchase | ||
| IRS CE Credit Request Form (0.15 MB) | Available after Purchase | ||
| Understanding Section 199A: Business Income Deduction_Slides Handout (6.86 MB) | 31 Pages | Available after Purchase |
| IRS_Proposed_Regs_Section199A (0.51 MB) | 184 Pages | Available after Purchase |
| Understanding Section 199A: Business Income Deduction_Q&A (0.01 MB) | Available after Purchase | ||
| Understanding Section 199A: Business Income Deduction_Q&A (0.01 MB) | Available after Purchase | ||
Faculty
Arthur Werner Related Seminars and Products
Werner-Rocca Seminars, Ltd.
Arthur Joseph Werner, JD, MS (Taxation), is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Mr. Werner’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals. In addition, Mr. Werner is an adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University. Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School.
Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants and Financial Planners, and has presented well in excess of 2500 eight-hour seminars over the past twenty-five years as well as numerous webinars and video presentations. Mr. Werner has been rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.
Additional Info
Basic Course Information
Prerequisites NoneAdvanced Preparation None
Designed For Designed for CPAs and other finance professionals
Original Recording Date 08/17/2018
Yellow Book No
Course Developer Arthur Werner
Date Added to Catalog 08/14/2018
Additional Information
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Instructional Delivery Method Group Internet Based
Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Promo Video
Reviews
| 5 |
|
| 4 |
|
| 3 |
|
| 2 |
|
| 1 |
|