To provide accountants and tax professionals with an in-depth examination of Section 199A, and guidance on applying IRS final regulations and revenue procedures  on computations and deductions of qualified business income for sole proprietors, partnerships, S corporation shareholders, qualified real estate investors, trusts and estates. This webinar will also enable you to identify when rental real estate is entitled to the Section 199A deduction.

• Treatment of rental real estate for Section 199A Deduction—Notice 2019-07
  – Requirements to be treated as a trade or business
  – Rental services
  – Not rental services
  – Excluded rental arrangements
• In-depth analysis of the final Section 199A regulations
• Computing the Section 199A Deduction
  – Formulas and examples
• Reporting by flow-through entities
• Examination of definitions
• Negative QBI amount, netting and carryover rules
• W-2 wages and UBIA
  – Who are employees for
     W-2 wages?
  – Revenue procedure 2019-11
• Allocation of items among directly conducted trades or businesses
• Required tax return disclosure
• Specified service trades or businesses
  – Review of examples explaining definitions and computations
   

To provide accountants and tax professionals with an in-depth examination of Section 199A, and guidance on applying IRS final regulations and revenue procedures  on computations and deductions of qualified business income for sole proprietors, partnerships, S corporation shareholders, qualified real estate investors, trusts and estates. This self-study webinar will also enable you to identify when rental real estate is entitled to the Section 199A deduction.

• Identify the effective rate of pass-through income to an individual in the top income tax bracket

• Identify those entities with income qualifying for the Section 199A deduction

• Recognize rental real estate qualifying as a Section 162 trade or business

• Recognize rental real estate enterprises meeting the safe harbor notice of Notice 2019-07

• Recognize the implications of properties leased on a triple net basis

• Identify the layout of the final Section 199A regulations

• Identify those items taken into account when computing qualified business income

• Recognize the implications of the applicable thresholds of taxable income as they determine the availability of the Section 199A deduction

• Recognize those wages included in the determination of wages for purposes of the Section 199A deduction

• Recognize property included in the determination of Unadjusted Basis Immediately after Acquisition (UBIA)

• Identify allowable allocation methods for items of QBI that are properly attributable to more than one trade or business

• Identify the ownership thresholds allowing the aggregation of businesses for purposes of the Section 199A deduction

• Identify the various fields of specified and non-specified trade or businesses

• Recognize the threshold at which a business with both non-specified and specified business revenue streams may maintain its status as a non-specified trade or business

• Treatment of rental real estate for Section 199A Deduction—Notice 2019-07
  – Requirements to be treated as a trade or business
  – Rental services
  – Not rental services
  – Excluded rental arrangements
• In-depth analysis of the final Section 199A regulations
• Computing the Section 199A Deduction
  – Formulas and examples
• Reporting by flow-through entities
• Examination of definitions
• Negative QBI amount, netting and carryover rules
• W-2 wages and UBIA
  – Who are employees for
     W-2 wages?
  – Revenue procedure 2019-11
• Allocation of items among directly conducted trades or businesses
• Required tax return disclosure
• Specified service trades or businesses
  – Review of examples explaining definitions and computations