The Section 199A Pass-Through Deduction ON DEMAND

Overview

The Tax Cuts and Jobs Act of 2017 (TCJA), signed into law during the closing days of 2017, affects the tax planning and income tax liability for many taxpayers. Among those for whom the TCJA will have a more significant effect are business owners of pass-through trades or businesses who may be eligible for the TCJA’s pass-through deduction. This course will examine the pass-through deduction authorized under Section 199A of the TCJA.

Highlights

Business Owner’s Taxable Income Below Threshold. When Taxable Income Exceeds the Threshold. When Taxable Income is Within Phase-In Range. Specified Services Trades or Businesses.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

Explain how to compute the Section 199A deduction for pass-through business owners whose taxable income is. Not in excess of the applicable threshold. In excess of the applicable threshold but not in excess of the sum of the threshold and phase-in range. In excess of the sum of the applicable threshold and phase-in range. Determine W-2 wages and the unadjusted basis of qualified property immediately after its acquisition (UBIA);. Define qualified business income (QBI), qualified REIT dividends and qualified publicly traded partnership (PTP) income and the special rules applicable to them. Recognize the aggregation rules applicable to the Section 199A deduction. Identify the trades or businesses considered specified service trades or businesses (SSTBs) that may be ineligible for the pass-through deduction, and more.

Preparation

None.

Notice

None.