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

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

A live 90-minute CLE/CPE webinar with interactive Q&A


Tuesday, June 18, 2019

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, May 24, 2019

or call 1-800-926-7926

This CLE/CPE webinar will provide tax professionals and advisers with an in-depth understanding of the IRS' final regulations on Section 199A 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 Section 199A, providing some taxpayers a deduction of income attributable to certain qualified businesses. The IRS has issued final regulations providing some clarity to issues faced by taxpayers. 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 concerning their share of qualified business income, but only if they meet the strict requirements of 199A.

A taxpayer is entitled to a deduction of up 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. IRS Section 199A final regulations
  2. Requirements of 199A
  3. Defining qualified business income and calculating the deduction
  4. Limitations on certain types of businesses or services
  5. Phase-in of wages and capital limitations
  6. How shareholders and members of pass-through entities claim the 199A deduction
  7. Important tax planning considerations

Benefits

The panel will review these and other key issues:

  • IRS final regulations on Section 199A
  • 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

Wiesen, Dina
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

Additional faculty
to be announced.

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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:

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