COURSE NUMBER: 2019083038
Nonmembers CPAs pay an additional $21.25 per credit hour for CE classes; nonmember CPAs will be held responsible for paying this additional amount.
The presenter has been waiting for the dust to settle. The purpose of this in depth 8 hour seminar is to address, in great detail, the new qualified business income deduction adopted by the Tax Cuts and Jobs Act (the “QBI Deduction”). The QBI Deduction represents one of the best tax planning opportunities that has been introduced in the last 30 years. In January of 2019, the IRS issued some highly anticipated final regulations; nonetheless, many issues are outstanding and the time has arrived to implement conservative to aggressive tax planning. This seminar will be conducted from a tax practitioner’s perspective and will discuss in depth the following general and cutting-edge issues:
• general computation issues
• wage and investment limitations
• specific eligible and ineligible businesses
• strategies to make an ineligible business eligible
• choice of business planning to maximize QBI deduction (S
corporation, partnership vs. sole proprietorship)
• wages and guaranteed payments qualifications
• reasonable compensation issues
• trade or business standard
• “sack and crack” strategies
• aggregation issues
• penalty provisions
• rental real estate planning
• oil and gas royalty planning
• employee vs. independent contractor planning
Course Objective(s): Participants will understand the current changes in the tax law relating to the new qualified business income deduction adopted by the Tax Cuts and Jobs Act of 2017.
Prerequisites: The method of presentation is group-live instruction and the program level is overview and update. There are no prerequisites for this course nor is there any advanced preparation required.