COURSE TITLE: “Complete Coverage of 199A Regulations”

REGISTER NOW: SMTX59 – In-Person | LITX59 – Livestream

Lynn Nichols, CPA, host of SCACPA’s Federal Tax Update Podcast and presenter for the South Carolina Tax Team, will bring his expertise to a very special presentation on the 199A Qualified Business Income Deduction – the “QBID” – on Thursday, Sept. 20.

On Aug. 8, the IRS released more than 180 pages of proposed regulations covering the new 20% Qualified Business Income Deduction (QBID) under section 199A (part of December’s Tax Cuts and Jobs Act). Proposed regulations are published. A draft Form K-1, for reporting 199A information, was made available on Aug. 20.

Now is the perfect time to learn the rules and get the knowledge you need to answer your clients’ questions about this important tax development.

WHEN: Thursday, Sept. 20, 2018, 8:30 a.m.-4:30 p.m.

WHERE: 1300 12th Street, Cayce, 29033. Seating is limited and reserved for SCACPA members, but unlimited livestream will be available for members and non-members.

COST FOR MEMBERS: SCACPA is offering this eight-hour class for NO CHARGE to your 40-hour CPE Bank.

COST FOR NON-MEMBERS: We invite you to experience this course via livestream for free!  Consider it a “Try Before You Buy” opportunity to discover SCACPA’s first-class CPE offerings.

MATERIALS: A Guide to the 199A Regulations

TOPICS:

  • Plain English Definitions of All Critical Terms: QBID, SSTB, etc.
  • What Can Your Client Do Before Year-End to Get the Most QBID?
  • When Will Rental Income Qualify for the Deduction?
  • How to Calculate the 20% Deduction, Including Phase-In and Phase-Out for a Specified Service Trade or Business
  • What Are “W-2 Wages,” What Is “Qualified Property,” and Why is That So Important?
  • What is a “Specified Service Trades or Business”? And Why Does It Not Qualify for QBID?
  • Can Businesses Be Combined or Split-Up to Get the Most QBID?
  • Safe Harbors for Some Business Combinations, and Segregating Activities!
  • How to Calculate the Deduction When a Taxpayer Owns and Operates Multiple Enterprises?
  • Which Entity (S Corporation, Partnership, or Proprietorship) is Best?

You can read Lynn Nichols’ recent assessment of the 199A provisions here: “S.C. Tax Team’s Lynn Nichols Examines IRS Proposed Regulations on IRC Sec. 199A (Qualified Business Income Deduction)”