Identifying qualified business income Calculate the 199A deduction Identify how your clients can maximize the deduction
The Tax Cuts and Jobs Act (TCJA) added Internal Revenue Code §199A. This Code section creates “pass-through” rules that allows individuals, estates, and trusts may to deduct up to 20% of their qualified business income from sole proprietorships and pass-through entities. Many of your clients will benefit from this deduction. However, IRC §199A has many vague points which needed clarification. On August 8, 2018, the Internal Revenue Service release proposed regulations on IRC §199A. As a practitioner, you need to understand these proposed regulations in order to best serve the needs of your client.
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate