Webcast: Section 163(j): Business Interest Limitation After TCJA (XSS163220)
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The Tax Cuts and Jobs Act added Section 163(j), limiting the deduction of business interest for certain taxpayers. Section 163(j) is accompanied by hundreds of pages of IRS regulations addressing important elements of this statute which we have incorporated into digestible parts of this program. Many taxpayers will be exempt from Section 163(j), and others can elect not to be subject to its provisions.

7/7/2020
When: July 7, 2020
8:00 AM until 11:30 AM
Where: Webcast
Surgent
S163-2020-01-WEBNR-189-01
United States
Presenter: Mike Tucker, Ph.D., LL.M., J.D., CPA
Contact: Section 163(j): Business Interest Limitation After TCJA
XSS163220


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Acronym XSS163220
CPE 4 hours
Vendor Surgent
Category
Taxation
Level Intermediate
Yellow Book? No
Registration Fees
Members* $169
CPA Non-Members $219

*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.

Note: Online registration for webcasts closes approximately 48 hours before the course start time. To register within that timeframe, give us a call at 800.288.5272.

Course Description

The Tax Cuts and Jobs Act added Section 163(j), limiting the deduction of business interest for certain taxpayers. Section 163(j) is accompanied by hundreds of pages of IRS regulations addressing important elements of this statute which we have incorporated into digestible parts of this program. Many taxpayers will be exempt from Section 163(j), and others can elect not to be subject to its provisions. The program covers the impact of the new legislation as well as which taxpayers are not subject to its provisions, either automatically or electively.

Objectives

  • Understand how Section 163(j) impacts taxpayers, including pass-through entities
  • Calculate the $26 million gross receipts test

Major Topics

  • Which taxpayers are subject to Section 163(j)?
  • The $26 million gross receipts test
  • What is an excepted trade or business?
  • Tax shelters and electing real property businesses
  • What is business interest for Section 163(j) purposes?
  • How does Section 163(j) impact pass-through entities?

Designed For: Tax practitioners who anticipate advising clients regarding this complex provision

Prerequisite: Working knowledge of federal tax rules related to individuals and businesses

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