CPAR Taxes  |  Format: Flash

Educating Your Client (and Yourself) on the Sec. 199A Deduction

Course Overview
As tax advisers increasingly prepare clients for changes in their 2018 tax liability, it is also time for the IRS to release its regulatory guidance on the new 20% deduction of qualified business income for the owners of pass-through businesses and the other changes produced by the Tax Cuts and Jobs Act. As promised, regular expert commentator Barbara Weltman focuses exclusively on the potential benefits, as well as the very real pitfalls, surrounding the QBI deduction and IRC sec. 199A.

Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Identify why Congress provided the qualified business interest deduction for pass-though entities;
  • Distinguish between the QBI for those taxpayers with incomes under the "threshold amounts" and those with incomes over it;
  • Define what UBIA stands for and why it is important; and
  • Explain the impact of a business from being classified as a
    "specified service trade or business" (SSTB).

    Catalog Number: CPAR1355-FM
    CPE Credits: 2 Registry / 2 QAS
    Author: CPA Report
    Advanced Preparation:
    Work experience in tax planning or tax compliance, or an introductory course in taxation
    Course Level: Update
    Field of Study: Taxes
    Content Partner: CPA Reports Online
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
      You are allowed 2 attempts to pass the final exam in a 30 day period. You will be locked out of the final for 30 days after any second failure.
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Oct 26, 2018 / Dec 05, 2019