Webinar

199A Pass-Through Deduction - Under the August 8, 2018 Proposed Regs

The all-new §199A pass-through deduction cuts non-C Corp income tax rates to the lowest in over 3 decades, but only for those eligible. The problem? Some higher income taxpayers, along with some lower income taxpayers, are aced out or trimmed back. §199A on its face is spectacularly complicated, but its fruit is oh so rewarding. This session unveils the newly minted, game changing §199A proposed regulations, makes them understandable and instructs how to plan for best results.

 

**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.

 

Objectives

  • To take the mystery out of the §199A pass-through deduction and move forward into planning

Highlights

  • Complex new pass-through entity deduction (QBID) clearly explained
  • Why wages and property are important in each business
  • Is the definition of “specified service business” (SSB) the monster it appears to be?
  • How to lasso income into the right spots
  • Numerous down-to-earth, truth illuminating examples
  • To aggregate or not to aggregate? And all that comes with it
  • How do choices made on 2017 (and 2018) returns affect QBID long term?
  • Impact of §199A on individual income tax effective rates
  • Impact, or not, of §199A on SE tax, NOLs, itemized deductions and credits
  • Critically important: How does QBID play with the various loss limitation rules?
  • What is a QB loss and how can it really put "the hurt" on?
  • What is the taxable income limitation - How to avoid its harsh impact?
  • Planning to maximize QBID (and turn high taxed tears to joy)  

Additional Information

Designed For

All CPAs

Vendor

ACPEN

Advanced Preparation

None

Prerequisite

The desire to learn

Field of Study

Taxes

Course Number

181891583

Level of Knowledge

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