COURSE #: 2019111238

Nonmembers CPAs pay an additional $21.25 per credit hour for CE classes; nonmember CPAs will be held responsible for paying this additional amount.

This seminar will discuss the new qualified business income deduction and the recently issued proposed regulations. The course will include

• the impact of the deduction on sole proprietorships, S corporations and partnerships
• the application of the deduction with respect to agricultural and cooperative organizations as well as rentals
• discussion regarding who qualifies for the deduction
• what constitutes a qualified trade or business
• what constitutes a specified service trade or business
• the mechanics of the deduction
• the application of limitations on the deduction including the W-2 wage limit and qualified property limit along with phase outs of the deduction
• 2019 – 2020 reporting requirements for individuals, trusts and businesses

The seminar will conclude with planning opportunities associated with taking advantage of the deduction.

Course Objective(s):

Participants will understand the new qualified business income deduction and the recently issued proposed regulations.

Prerequisites: The method of presentation is group-live instruction and the program level is intermediate.  There are no prerequisites for this course nor is there any advanced preparation required.