Insights: Webinar

Business Trends: Final Section 199A Regulations – What You Need to Know

Course Description
The Tax Cuts and Jobs Act, the most comprehensive tax legislation passed in the past 30 years, has brought about many changes and opportunities for business owners to consider. One big change is the Section 199A – 20% deduction for Qualified Business Income (QBI). The IRS recently released final regulations under section 199A and other proposed section 199A guidance covering certain areas, including the treatment of rental income. This new guidance presents unique opportunities and challenges for businesses generating QBI through sole-proprietorships and pass-through entities (partnerships, S corps, and certain LLCs).

Learning Objectives:

  • Outline the Section 199A deduction
  • Discuss qualifying for the Section 199A deduction
  • Review the recently finalized regulations and how they differ from the proposed regulations
  • Consider the treatment of various businesses under this new guidance, including businesses generating rental income
  • Explore planning opportunities and potential traps under Section 199A and the new guidance
  • Strategize ways to optimize the deduction

Presenter: Adam Sweet, JD, LLM, Principal
Adam has extensive knowledge in the area of partnership tax, including interpreting partnership agreements, allocation and distribution provisions, and issuing profits interests. He is also experienced with both the buying and selling sides of domestic and foreign joint ventures, as well as a variety of IRS controversy matters, including IRS exams and appeals hearings.

Todd Laney, CPA, Manager
Todd Laney has more than seven years of accounting experience with both state and local tax and federal tax. He specializes in working with all facets of private equity and has managed the entire tax engagement process for several large private equity funds. Todd has experience working with Limited Partnership Agreements as well as a variety of other tax services including flow-through investments, waterfall calculations, unrelated debt-financed income and international information reporting forms.

CPE Information
CPE Credits: 1
Field of Study: Taxes
Level of Knowledge: Basic
Delivery Method: Web-Based Group Session

Additional Information:
These are web-group seminars. No prerequisites or advanced preparation required. For information regarding refund, complaint and program cancellation policies, please contact Jason McKeever at 701.476.8773.

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