Section 199A: Deductions, Limitations, Complexities and Opportunities for Pass-Through Entities
Determining Qualified Business Income, Loss Carryover, Reformation Considerations, and More
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will provide tax counsel, accountants, and other advisers with an in-depth understanding of Section 199A and the mechanics of calculating and claiming the qualified business income deduction. The panel will discuss the strict rules, requirements, and limitations of IRC Section 199A and provide a roadmap through many of the available planning techniques to maximize tax savings under this provision.
Outline
- Requirements of 199A
- Defining qualified business income and calculating the deduction
- Limitations on certain types of businesses or services
- Phase-in of wages and capital limitations
- How shareholders and members of pass-through entities claim the 199A deduction
- Important tax planning considerations
Benefits
The panel will review these and other key issues:
- IRS regulations
- Benefits and limitations of the provision
- Understanding the rules and eligibility requirements of claiming the deduction
- Identifying qualified businesses and related income subject to the deduction
- Understanding the limitations on the deduction, including the wage limitation and combined property and wage-base limitation
- Exploring the phase-in of the wage-base and other income or capital limitations
- Entity reorganization options and avoidance of pitfalls in considering the same
- Tax planning tactics and lesser-known factors to consider
Faculty
Patrick M. Cox
Partner
Nixon Peabody
Mr. Cox is a partner within Nixon Peabody’s M&A and Corporate Transactions practice group and member of the... | Read More
Mr. Cox is a partner within Nixon Peabody’s M&A and Corporate Transactions practice group and member of the Tax team. He focuses on various tax aspects facing domestic and international companies and provides significant experience in areas of capital markets, reorganizations, real estate, and private equity matters.
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Ajay Gupta
Of Counsel
Moore Tax Law Group
Mr. Gupta is a tax litigation and criminal defense attorney with extensive private practice, government, and adjunct... | Read More
Mr. Gupta is a tax litigation and criminal defense attorney with extensive private practice, government, and adjunct teaching experience. At large and small law firms in California, he managed complex business litigation at trial and appeal stages. As a Special Assistant U.S. Attorney in the Northern District of Georgia, Mr. Gupta prosecuted violent and white-collar crimes. As an Attorney-Adviser at the U.S. Tax Court in Washington, D.C., he supported judicial review and resolution of deficiency redetermination, collection due process, and whistleblower actions. As Adjunct Professor of Law at DePaul, Chicago-Kent, and U. of Houston law schools, Mr. Gupta teaches civil and criminal tax litigation courses. Many of his publications have been cited in court opinions, journals, and treatises.
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