Section 199A: New IRS Regulations, Deductions, Limitations, Complexities and Opportunities for Pass-Through Entities

Determining Qualified Business Income, Loss Carryover, Reformation Considerations and More

Recording of a 90-minute CLE/CPE webinar with Q&A


Conducted on Thursday, October 11, 2018

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE/CPE webinar will provide tax professionals and advisers with an in-depth understanding of §199A, recent IRS regulations and how to claim the qualified business income deduction. The panel will discuss the strict rules, requirements and limitations of §199A and the available planning techniques to maximize tax savings for pass-through entities.

Description

The tax reform law added IRC §199A, providing some taxpayers a deduction of income attributable to certain qualified businesses. This deduction creates a tax benefit to shareholders and members of pass-through entities by reducing their federal income tax rate. Individuals, trusts, and estates are eligible to claim the deduction with respect to their share of qualified business income, but only if they meet the strict requirements of §199A.

A taxpayer is entitled to a deduction equal to 20% of the taxpayer’s qualified business income from pass-through entities and 20% of qualified REIT dividends, publicly traded partnership income and qualified cooperative dividends. The complexities of the rules for claiming the §199A deduction force tax professionals and advisers to make an early determination of a taxpayer’s eligibility for the deduction, determine whether action should be taken to maximize the amount of the deduction, and implement planning strategies to secure every tax benefit available to the taxpayer.

Listen as our panel analyzes the requirements, limitations and implications of §199A, and provides tips for developing and implementing effective tax planning strategies to take advantage of the qualified business income deduction.

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Outline

  1. Requirements of §199A
  2. Defining qualified business income and calculating the deduction
  3. Limitations on certain types of businesses or services
  4. Phase-in of wages and capital limitations
  5. How shareholders and members of pass-through entities claim the §199A deduction
  6. Important tax planning considerations

Benefits

The panel will review these and other key issues:

  • Benefits and limitations of §199A
  • Understanding the rules and eligibility requirements of claiming the deduction
  • Identifying qualified business income and property for calculating the deduction
  • Understanding the phase-in of wages and other income or capital limitations
  • Avoiding tax pitfalls in considering entity reformation options
  • Tax planning tactics and lesser-known factors to consider

Faculty

Grossman, Cindy
Cindy Grossman

Partner
Giordani Swanger Ripp and Jetel

Ms. Grossman’s practice encompasses a wide variety of corporate and partnership transactions with international,...  |  Read More

Wiesen, Dina A.
Dina A. Wiesen
Senior Manager, National Tax Office, Passthroughs
Deloitte Tax

Ms. Wiesen specializes in partnership taxation, specifically the use of partnerships and limited liability companies in...  |  Read More

Goode, Michael
Michael S. Goode

Counsel
Stites & Harbison

Mr. Goode helps businesses and families with their tax, business and estate planning needs. He also has a focus on...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

48 hours after event

$297

Download

48 hours after event

CPE Not Available

$297