Webcast: Tax Reform: A Case Study Approach to Final Section 199A (XAF199A119)
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The monumental passing of the Tax Cuts and Jobs Act (TCJA) is resulting in historic tax reform that impacts nearly every American. During this time of change, the Section 199A Small Business Deduction has been one of our most asked about areas of the new tax law. This webcast explores the 199A deduction and uses case studies to assess the deduction under various scenarios.

2/12/2019
When: 02/12/2019
12:00 PM until 2:00 PM
Where: Webcast
AICPA
1910743:6A095F39B6A6EB40FE234CFC2A4E5EE9
Louisiana
United States
Presenter: Robert Keebler


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Acronym XAF199A119
CPE 2 hours
Vendor AICPA
Category
Tax
Level Intermediate
Yellow Book? No
Registration Fees
Members* $99
CPA Non-Members $129

*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.

Texas CPAs: Our Texas State Board of Public Accountancy Sponsor number is #010423.

Course Description

The monumental passing of the Tax Cuts and Jobs Act (TCJA) is resulting in historic tax reform that impacts nearly every American. During this time of change, the Section 199A Small Business Deduction has been one of our most asked about areas of the new tax law.

This webcast explores the 199A deduction and uses case studies to assess the deduction under various scenarios. You will focus on the detailed mechanics of the new code section and best planning techniques.

Objectives

When you complete this webcast, you will be able to identify, formulate and assess the following calculations:

  • Amount of 199A deduction under various scenarios
  • Overall limitation
  • W-2/unadjusted basis limitation
  • Specified service trade or business (SSTB) limitation
  • Phase-in of W-2/unadjusted basis limitation
  • Phase-out of deduction for SSTBs
  • Calculation of deduction for various entities
  • S corporations
  • Effect of changing ownership percentages during a tax year
  • Allocation of W-2 wages and unadjusted basis
  • Calculation of qualified business income
  • Calculations for trusts
  • Allocation of QBI between trust and beneficiaries
  • Sale of crops to agricultural cooperative vs. sale to non-cooperative buyer
  • Changes to accuracy-related penalty
  • Carryover of losses
  • Effect of QBI on basis
  • Treatment of NOLs

Designed For: Tax Professionals

Prerequisite: Basic knowledge of the Federal tax rules relating to individuals and businesses

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