The Schedule 199A Pass-Through Deduction WEBCAST

Overview

This course will examine the pass-through deduction authorized under Section 199A of the TCJA. The course is conceptually divided into three sections: First, calculation of the pass-through deduction for business owners whose taxable income does not exceed a threshold amount set by statute; second, calculation of the pass-through deduction for business owners whose taxable income is greater than the threshold; and finally, calculation of the pass-through deduction for business owners whose taxable income is greater than the threshold and whose businesses are considered specified service trades or businesses (SSTBs). This course will also examine each of the business categories that are considered specified service trades or businesses and identifies those businesses that might appear to be placed in those categories but which would not be deemed SSTBs.

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. Identify the applicable threshold amounts. Recognize the requirement that would enable an SSTB to qualify for an exception to disqualification for the pass-through deduction, and more.