For months tax professionals have been eagerly awaiting guidance on the calculation of the new Section 199A deduction, a key component of the Tax Cuts and Jobs Act. The new deduction allows for an “artificial” calculation of qualified business income and opens up the possibility of deductions as high as 20% for partnerships, LLCs, S-corporations and sole proprietors.
Well, the wait is over. The guidance is here—and it’s more than we bargained for. In order to reap the benefits of this new deduction for clients, tax professionals will need to quickly master an extremely complex multi-step calculation process that may phase out some or all of the deduction. To do that, they must first digest a guidance package of epic proportions.
Watch this on-demand webinar where Tony Nitti will walk you through the guidance and its application, and help you master the calculations, spot opportunities, and avoid pitfalls and traps.
Recorded on Wednesday, August 22, 2018
2.5 Hours Run-Time
Not Eligbile for CPE
Recording Fee: $99
For questions or to speak with a member of our Tax Services Group, please fill out the form below.