Understanding Section 199A: The 20% Deduction for Pass-Through Entity Owners and Investors in Real Estate (SMTX24/19)

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Event Description

By far the most complex and (for many taxpayers) most important provision of the Tax Cuts and Jobs Act is the Section 199A 20% deduction for pass-through entity owners and real estate investors. CPAs must know how Section 199A works in detail so their clients can take advantage of the tremendous opportunities this provision offers. This program will equip practitioners with the knowledge to help clients implement Section 199A and maximize the 20% deduction.

Major Topics
• Maximizing the 20% deduction for pass-through entities and Schedule C’s
• Whether a particular tax entity offers a greater Section 199A deduction
• What happens when the taxpayer owns multiple entities
• Calculating qualified business income (QBI)
• What happens if QBI for a given year is negative
• Taxable income limits on specified service trade or businesses
• How to identify a specified service trade or business
• Whether the owner of a Schedule E with net rental income can claim the Section 199A deduction
• Understand how the 20% deduction for pass-through entity owners works
• Maximize the benefits of this deduction

Discussion Leader

Robert Henkels, CPA