Thanks to the Tax Cuts and Jobs Act (TCJA), individuals, estates, and trusts may now deduct up to 20% of their qualified business income from sole proprietorships and pass-through entities. Although the deduction can greatly benefit many noncorporate taxpayers, it’s one of the more convoluted provisions of the TCJA. It contains various rules and limits that can substantially reduce or eliminate the deduction.
This web seminar takes a practical, hands-on approach to understanding this complex yet beneficial tax incentive. You’ll learn the basics of Section 199A, explore tax planning opportunities through comprehensive examples, and discover how practitioners are dealing with uncertainties surrounding the deduction. Topics include:
- Identifying qualified business income
- Specified service businesses
- Taxable income thresholds
- The wage/investment limit
- Treatment of rental real estate activities
Join us for an insightful look at Section 199A and see how you can help your clients maximize this deduction.