Everything You Need to Know About the Pass-Through Entity Rules: IRC 199A The Code and Regulations

Overview

As part of the Tax Cuts and Jobs Act (TCJA), IRC § 199A was added.  This Internal Revenue Code section allows certain pass-through entities the ability to has made it deduct up to 20% of their qualified business. Although practitioners have had over three years of “experience” utilizing IRC § 100A, many practitioners still do not feel comfortable with this part of the Internal Revenue Code.  The purpose of this presentation is to provide the practitioner with an understanding of the rules of IRC § 199A as well as an understanding of the IRC § 199A regulations.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Prerequisites

None

Objectives

• The purpose of this presentation is to provide the practitioner with an understanding of the rules of IRC § 199A as well as an understanding of the IRC § 199A regulations.

Highlights

• Understanding the term “QBI” (qualified business income)
• Understanding the terms “SSTB” (specified service trade or business)
• Understanding the term “QTB” (qualified traded or business)
• Calculate the 199A deduction Understanding the phaseouts
• Understanding “aggregation”
• Rental property as a trade or business
• Identify how your clients can maximize the deduction
• Planning ideas
• Understand the Section 199A Regulations