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(AIG4) Surgent's Section 199A: Applications and Challenges (AIG4)
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Section 199A is easily the least understood topic of The Tax Cuts and Jobs Act. Your clients will look to you for explanations and best practices to maximize the 20% deduction. Pass-through entities and real estate investors stand to gain valuable tax cuts, and the average practitioner cannot afford to be uninformed on Section 199A. This program incorporates the experiences many tax practitioners had over the last tax season calculating and applying this deduction. This course will cover all rel

8/4/2020
When: 08/04/2020
11:00 AM
Where: Webcast
SURGENT
AIG4-2020-01-WEBNR-217-01
United States
Presenter: Mike Tucker, Ph.D., LL.M., J.D., CPA


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Acronym: AIG4

CPE:  4

Vendor: Surgent

Category:  Taxes (4)

Level: Update

Yellow Book? No

Registration Fees:

Members* $139

Non-Members $159

*The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801-466-8022, Monday through Friday, 8am to 4pm.

 

Course Description: 

Section 199A is easily the least understood topic of The Tax Cuts and Jobs Act. Your clients will look to you for explanations and best practices to maximize the 20% deduction. Pass-through entities and real estate investors stand to gain valuable tax cuts, and the average practitioner cannot afford to be uninformed on Section 199A. This program incorporates the experiences many tax practitioners had over the last tax season calculating and applying this deduction. This course will cover all relevant facets and nuances of the deduction, as well as implementation issues and lessons that will be useful in advising clients this year. This program will include all relevant IRS guidance.

Objectives:

 

Understand how the 20% deduction for pass-through entity owners works

Implement the benefits of this deduction for income tax returns

 

Major Topics:

 

Latest guidance issued by the IRS, whether by way of regulations or administrative announcements

What happens when the taxpayer owns multiple entities; aggregation rules

Calculating qualified business income (QBI)

How to identify a specified service trade or business

Taxable income limits on specified service trade or businesses

The wage limitation and associated limits

Maximizing the 20% deduction for pass-through entities and Schedule Cs

Proper treatment of REIT, PTP, and Cooperative income

Treatment of carryover amounts

Entity choice and the Section 199A deduction

Rental activities as a trade or business and the rental safe harbor

Completion of Forms 8995 and 8995-A

 

Designed For:  Any tax practitioner wishing to understand and apply the §199A deduction

 

Prerequisite:  A basic understanding of the federal tax rules relating to individuals and businesses

 

Note: Login instructions will be provided by the webcast vendor.

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