Update on Section 199A: What We Now Know In Light of NEW IRS Guidance Webinar

• Understand how the 20% deduction for pass-through entity owners works
  
• Implement the benefits of this deduction for income tax returns

• Operational rules for calculating the Section 199A deduction
• Definitions that apply for purposes of the Section 199A deduction
• Computation rules and examples for individuals whose taxable income does not exceed the threshold amount
• Computation rules and examples for individuals whose taxable income exceeds the threshold amount
• Calculating the deduction for taxpayers with taxable income within the phase-in-range
• What is a specified service trade or business?
• Special rules for pass-through entities, SE tax, and net investment income tax
• Treatment of non-calendar year taxpayers
• Guidance on methods for calculating W-2 wages for purposes of Section 199A
• Requirements for aggregation of separate trades or businesses
• Anti-abuse rules targeting use of trusts