About the Course
Introduction
This course will provide advisers to businesses with strategies to increase the generous 20% QBI (qualified business income) deduction under 199A, now made permanent by the One Big Beautiful Bill Act (OBBBA). The panel will cover tips to maximize W-2 income and assets when applicable, strategies for separating and aggregating businesses, and other planning strategies.
Description
The deduction, in its purest form, is 20% of qualified income. The calculation requires extra time and adds an additional layer of complexity to every return with a taxable business. For income exceeding certain thresholds, the deduction is limited to the lesser of 20% of QBI or the greater of 50% of W-2 wages paid by the business or the total of 2.5% of UBIA (unadjusted basis after initial acquisition) plus 25% of W-2 wages.
OBBBA has significantly increased eligibility thresholds for this deduction and added a new minimum deduction of $400 (adjusted annually for inflation) for qualifying taxpayers with less than $1,000 in QBI.
There are planning opportunities to explore for the 199A deduction. Ensuring a business' income is qualified, staying under thresholds, increasing asset acquisition costs, and increasing W-2 wages are just a few approaches that can significantly impact a taxpayer's deduction.
Listen as our panel of experts divulges strategies for maximizing the deduction under 199A.
Presented By
Bio for Annie Attorney; loves horses and arguments
This is a bio for Big Boat. Big Boat is an avid reader and unicyclist.
This is a bio for speaker, Roller Coaster. Roller Coaster enjoys walks on the beach and pizza with pineapple.
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
Date + Time
- event
- schedule
1:00 p.m. ET./10:00 a.m. PT
I. Maximizing the 199A deduction: introduction
II. OBBBA revisions to the QBI deduction
III. Individual threshold
IV. Maximizing W-2 wages
V. Increasing UBIA
VI. SSTBs
VII. Aggregating and separating businesses
VIII. Converting nonqualified income
IX. Planning for sales
X. Planning for NOLs
The panel will review these and other important issues:
- OBBBA revisions to the QBI deduction
- Planning strategies to maximize the 199A deduction
- Examples and illustrations of QBI calculations
- Converting non-qualifying income to QBI
Learning Objectives
After completing this course, you will be able to:
- Decide how OBBBA impacted the 199A deduction
- Determine how to convert non-qualifying income to QBI
- Ascertain how to maximize the 20% QBI deduction
- Identify SSTBs and how they are impacted by IRC 199A
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite:
Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of individual income taxation, including itemized deductions, individual income tax credits, net operating loss limitations including carrybacks and carryforwards.
BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
