Passthrough Business Deduction

Price: $19.99

CPE Credits: 2.0

Category: ,

Course Number: TXPASSDS

passthrough business deduction

Description:
The Tax Cuts and Jobs Act (P.L. 115-97), enacted Dec. 22, 2017, created, under §199A,  a new deduction for up to 20% of qualified business income (QBI) from partnerships, limited liability companies (LLCs), S corporations, trusts, estates, and sole proprietorships for tax years beginning after Dec. 31, 2017. However, determining the §199A deduction amount and availability is a very complex multi-step process that may phase out some or all of the deduction.
In the face of this complexity, the text provides a selected overview of the basic components of this below-the-line deduction. Qualified business income, taxpayer’s taxable income, wage/capital limit, specified services trade or businesses, and other key components are not only defined and calculated but their interaction is demonstrated and exampled. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Danny C. Santucci

Publication: November 2018

Format: PDF
Pages: 52

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  1. Recognize §199A’s limited effective time period, it’s complex calculation process and the general exclusions, limits, and restrictions applicable to the provision.
  2. Determine the §199A deduction amount, the type of  W-2 wages used in calculating the wage/capital limit and specify how the limit impacts the amount and availability of the deduction.
  3. Identify qualified business income and loss, its basic components and the ability of a taxpayer to aggregate businesses in its determination.
  4. Recognize the specified services trade or business exclusion, the listed excluded services and the important exceptions provided by the regulatory de minimis rule. Identify a domestic

Overall Rating: 5 Stars “This course was great. I’ve done a lot of studying on the TCJA and 199A and this course was more detailed which helped me understand the 199A deduction a lot better.” Larry T. 12/12/2018

Description:
The Tax Cuts and Jobs Act (P.L. 115-97), enacted Dec. 22, 2017, created, under §199A,  a new deduction for up to 20% of qualified business income (QBI) from partnerships, limited liability companies (LLCs), S corporations, trusts, estates, and sole proprietorships for tax years beginning after Dec. 31, 2017. However, determining the §199A deduction amount and availability is a very complex multi-step process that may phase out some or all of the deduction.
In the face of this complexity, the text provides a selected overview of the basic components of this below-the-line deduction. Qualified business income, taxpayer’s taxable income, wage/capital limit, specified services trade or businesses, and other key components are not only defined and calculated but their interaction is demonstrated and exampled. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Danny C. Santucci

Publication: November 2018

Format: PDF
Pages: 52

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  1. Recognize §199A’s limited effective time period, it’s complex calculation process and the general exclusions, limits, and restrictions applicable to the provision.
  2. Determine the §199A deduction amount, the type of  W-2 wages used in calculating the wage/capital limit and specify how the limit impacts the amount and availability of the deduction.
  3. Identify qualified business income and loss, its basic components and the ability of a taxpayer to aggregate businesses in its determination.
  4. Recognize the specified services trade or business exclusion, the listed excluded services and the important exceptions provided by the regulatory de minimis rule. Identify a domestic

Overall Rating: 5 Stars “This course was great. I’ve done a lot of studying on the TCJA and 199A and this course was more detailed which helped me understand the 199A deduction a lot better.” Larry T. 12/12/2018

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