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Section 199A: Applications and Challenges in 2019

When
June 11
8:00 - 11:30 a.m.

Where
Pennsylvania Institute of CPAs
Philadelphia - Map it

CPE Credits
4-Tax

Details

 Pricing

PICPA Member: $139 | Nonmember: $189

CLE Credit Add-On: $25


 More Information

Course No.
764200
Level
Update
Prerequisites
Basic understanding of the federal tax rules relating to individuals and businesses

Description

 

Understand how the 20% deduction for pass-through entity owners work and best practices to maximize it. Cover the nuances of the deduction and how to implement the benefits of the deduction for income tax returns.

Highlights

  • Latest guidance issued by the IRS, including regulations and/or administrative announcements
  • What happens when the taxpayer owns multiple entities; aggregation rules
  • Calculate qualified business income (QBI)
  • How to identify a specified service trade or business
  • Taxable income limits on specified service trade or businesses
  • Maximize the 20% deduction for pass-through entities and Schedule Cs
  • What to do if QBI for a given year is negative
  • Whether a particular tax entity offers a greater Section 199A deduction
  • Whether the owner of a Schedule E with net rental income can claim the Section 199A deduction


Speaker(s)

Susan Smith, CPA

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences.

Smith spent 14 years as a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices locally. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She has been an associate adjunct professor at Widener University in the master’s in taxation program. Her ratings have consistently exceeded 4.7 on a scale of 5.0. Also, she recently received the James L. McCoy 2008 Discussion Leader of the Year Award for excellence in teaching.

Smith earned her Bachelor of Business Administration degree, with an accounting concentration, in 1978.


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