New Section 199A: Deductions, Limitations, Complexities and Opportunities for Pass-Through Entities

Attend upcoming webinar and earn continuing education credits. Live Webinars   |   On-Demand   |   All-Access Plan Manage Preferences    |    View in Browser New Section 199A: Deductions, Limitations, Complexities and Opportunities for Pass-Through Entities July   30 3 pm - 4:40 pm ET Presenter: Nicholas Preusch, tax manager at PBMares, LLP Credits: CPE, CLE in all states (Credit Details) Can't attend live? By registering, you will be able to view the course live, view a recording at any time after the live presentation, or both. Viewing Options: View on your computer, tablet, or smartphone Learn More Register Today Course Description   The Tax Cut and Jobs Act added IRC §199A, a new deduction where taxpayers can reduce their taxable income by 20% of their qualified business income, as attributable to certain qualified businesses. While the goal of the bill was to simplify taxes, this new deduction has several layers of complexity. Shareholders and members of pass-through entities can reduce their federal income tax rate, while individuals, trusts, and estates may not be eligible. The deduction depends on items such as taxable income and the type of business being performed and has requirements and limitations that impact tax savings for pass-through entities. In this practical webinar, you will examine how the deduction is calculated and who can claim the qualified business income deduction. You will learn different tax planning strategies that can help maximize this deduction for your clients. Upon course completion, you will be able to: Define §199A, including its benefits and nuances Describe who is subject to §199A Define qualified business income Describe phase-in of wages and other income, or capital limitations Determine which businesses or services are limited in claiming this deduction Determine how shareholders and members of pass-through entities can claim the qualified business income deduction Learn More Register Today About The Presenter   Nicholas Preusch, CPA, JD, LLM, is a tax manager with PBMares, LLP. Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA's Journal of Accountancy, AICPA's Tax Advisor, NATP's Tax Pro Journal, and CCH's Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the VSCPA's Tax Advisory Committee and the AICPA's Tax Practice and Responsibilities Committee. Nicholas is an adjunct professor with the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation). Learn More Register Today All-Access Membership   ● Earn continuing education credit for no additional fee ● Access courses on your computer, tablet, or smartphone ● More than 75 live webinars each month ● More than 1,500 on-demand courses Learn More Upcoming Webinars Taxing Policies and Rules for Sales and Use Tax August 7 at 3 pm ET Learn More AICPA'S Financial Framework for Small and Mid Sized Entities August 8 at 3 pm ET Learn More Unique Tax Challenges Facing Marijuana Businesses August 9 at 3 pm ET Learn More Questions? Please call us at 703-372-0550 Our Mailing Address: Clear Law Institute | 4601 N. Fairfax Dr., Ste 1200 | Arlington | VA | 22203 Remove me from future emails. Manage email preferences. This email was sent to virginia.duffy.planetduffy@blogger.com. If you are receiving it in error, please reply to this email.