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Seminar

Deduction for Qualified Business Income Under §199A - NO CREDIT

Register for this course:

The meeting times for this class are in the past. Please check here for additional meeting times.

Meeting Times:

Wednesday, May 20, 2020 10:00:00 AM - Wednesday, May 20, 2020 2:00:00 PM
(The meeting times for all courses are expressed in Mountain Time.)

Price:

This course is in the past and can no longer be purchased.

Location:

ONLINE ONLY
Classroom not available.

Delivery Method:

If attending in the CPE4U classroom or a Colorado hotel, the delivery method is Group Live.
If attending over the Internet (online), the delivery method is Group Internet Based.

Credit Hours:

Field of Study:

Course Level:

Intermediate

Prerequisites:

Working knowledge of federal income taxation

General Description:

The course will provide the practitioner with a detailed discussion and examples of the deduction for qualified business income under §199A introduced in the Tax Cuts and Jobs Act and modified by final regulations released January 18, 2019, proposed regulations on co-ops released on June 19, 2019, and other guidance including Rev. Proc. 2019-38, Rev. Proc. 2019-11, and additional proposed regulations. This provision affects every business tax return, including S corporations and partnerships. This is the free, not for credit version of this seminar and you will not receive an attendance certificate if you register and attend.

Learning Objective:

After completing this course the participant will be able to:

  • Describe who qualifies for the 20% deduction under §199A.
  • Describe the qualifications for the 20% deduction under §199A.
  • Describe the three categories of taxable income for the deduction under §199A.
  • Define a specified service business (SSB) and how the §199A deduction applies to a SSB.
  • Define a qualified trade or business (QTB).
  • Illustrate the application of the §199A deduction to an S corporation and partnership (RPEs) and how the self rental rules create QBI from a QTB.
  • Recognize a SSB and discuss the application of §199A for service-based businesses.
  • Calculate Qualified Business Income (QBI).
  • Describe when the rental of property reported on Schedule E is eligible for the §199A deduction and using the safe harbor test of Rev. Proc. 2019-38.
  • Calculate the deduction for the three categories of taxable income.
  • Describe the fracking rules.
  • Describe the effect of wages on the calculation of the §199A deduction and the three different methods available for determining wages under Rev. Proc. 2019-11.
  • Describe the effect of UBIA on the calculation of the §199A deduction, including UBIA for property contributed to a RPE, UBIA as an excess §743(b) basis adjustment, and ­calculating UBIA on property received in a like-kind exchange.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

Related Courses:

Seminar Name Date Location

CPE4U Colorado provides continuing professional education seminars for accountants, attorneys, enrolled agents, Tax Return Preparers, and Certified Financial Planners (Year 2019 Tax Update only) in Denver and other cities in Colorado. These classes range from two hours to two days in duration and are scheduled on weekdays from April 29, 2019, through February 7, 2020. Almost all classes taught in our own classrooms are also broadcast live over the Internet.

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Contact Us

CPE4U Colorado
4380 S Syracuse St Ste 110, Denver, Colorado 80237
720-389-5900 · Fax 720-708-3246
marylouj@cpe4ucolorado.com

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