Form 8903 Compliance

Challenges in Making Accurate Determinations and Calculations for the Domestic Production Activities Deduction

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Thursday, October 11, 2012

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Course Materials

This teleconference will prepare corporate tax professionals to handle the most difficult aspects of calculating and claiming the Sect. 199 domestic production activities deduction on Form 8903.

Description

Each year that corporate federal tax professionals face completing Form 8903 to claim the Sect. 199 domestic production activities deduction, they must grapple with a plethora of difficult calculations and decisions.

Has the company properly tabulated production property, cost of goods sold and various sub-deductions, expenses and losses? Can the simplified method for income limitations, and the 50% limit based on W-2 wages, be leveraged?

The domestic production activities deduction is important and lucrative (9% of either qualifying production income or the taxpayer's taxable income, whichever is less). It is smart practice for corporate tax professionals to hone their familiarity with Form 8903 and Sect. 199, and anticipate problem areas.

Listen as our panel of seasoned tax advisors offers experiences with, and alternatives for dealing with, the most difficult compliance tasks involved with preparing Form 8903.

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Outline

  1. Review, domestic production activities deduction
    1. Amounts
    2. Qualifying taxpayers
  2. Particular Form 8903 compliance issues
    1. What meets QPAI and DPGR standards
    2. What else is deductible
    3. Small business simplified overall, simplified deduction and Sect. 861 methods
    4. Income limitations
    5. W-2 wages for 50% limit

Benefits

The panel will address these and other key topics:

  • Understanding vital definitions such as "qualified production activities income" (QPAI), "domestic production gross receipts" (DPGR) and "qualifying production property."
  • Figuring cost of goods sold and other deductions, expenses or losses.
  • Determining whether simplified deduction methods are possible.
  • Tallying W-2 wages for the 50% limit.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Ronald Wainwright, Jr.
Ronald Wainwright, Jr.
Partner
Cherry Bekaert & Holland

He has more than 25 years of tax advisory experience and works with multi-national, public and closely held companies...  |  Read More

Kathleen King
Kathleen King
Managing Director, Research Credit and Incentive Services
Alvarez & Marsal Taxand

She specializes in working with corporate taxpayers on tax incentives, including research credits. She has more than...  |  Read More

Rick McElvain
Rick McElvain
Director
Engineered Tax Services

Over the last five years, he has worked on various federal tax credit and cost segregation studies, and IC-DISC...  |  Read More

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