Webcast: Review of Section 199A: The New QBI Deduction (XCRE19918)
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The course will cover compliance with new section 199A as well as planning implications. Topics cover QBI Deduction, K-1 Reporting and more.

5/17/2018
When: 05/17/2018
3:00 PM until 5:00 PM
Where: Webcast
CALCPA
4183645A
Louisiana
United States
Presenter: Gary R. McBride JD, CPA, LLM


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The course will cover compliance with new section 199A as well as planning implications. Topics cover QBI Deduction, K-1 Reporting and more..

Acronym XCRE19918
CPE 2 hours
Vendor CalCPA
Category
Tax
Level Intermediate
Prerequisite

General knowledge of taxation of sole-proprietors, partners and S shareholders.

Adv Prep

None

Yellow Book?
Registration Fees
Members* $60
CPA Non-Members $94

*The member rate applies to LCPA members, other state CPA society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

The course will cover compliance with new section 199A as well as planning implications. Topics cover QBI Deduction, K-1 Reporting and more..

Objectives

  • Determine how to compute the QBI Deduction including:
    • The T.I. phase-out for specified service businesses
    • The phase-in of the limit based upon W-2 wages and unadjusted basis
    • Maximizing W-2 wages and unadjusted basis
    • Calculating the Combined QBI Amount
    • Calculation of the limit based upon taxable income minus net capital gain.
  • Identify K-1 reporting by pass-thru entities and and special strategies for partners and S shareholders to maximize the QBI deduction.
  • Recognize the impact of fiscal year partnerships and S corporations.
  • Determine the interaction of section 199A with other IRC sections such as the passive loss rules and the new limit on nonpassive business losses.
  • Identify Understand the generous rules for REITS, Publicly Traded Partnerships and Agricultural Cooperatives as well as recipients of Qualified Cooperative Dividends.
  • Recognize Trust and Estate considerations.
  • Determine when rental real estate is a trade or business.
  • Identify special stratiegies to maximize the QBI deduction with rental real estate.
  • Recognize the impact of the QBI deduction on choice-of-entity considerations including a comparison with C corporations.

 

Major Topics

  • The definition of specified service businesses
  • Computation of the QBI Deduction
  • Special considerations for partners and S shareholders including K-1 reporting
  • Interation with other IRC sections
  • Special rules for REITS, PTPs, and Cooperatives
  • Special considerations involving real estate
  • Choice-of-entity considerations

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