Don Farmer’s §199A Newly Released Final Regulations Update – Rebroadcast
NOW THAT APRIL 15TH HAS PASSED, DO YOU NEED TO REVIEW THE SECTION 199A PROVISIONS BEFORE FILING THOSE EXTENDED PARTNERSHIP, S CORPORATION, AND INDIVIDUAL RETURNS?
The Maryland Association of CPAs is presenting a replay of the Farmer/Nunnallee 4-hour February 2019 §199A webcast. IRS says taxpayers may rely on either the proposed regulations in their entirety or the final regulations in their entirety when filing 2018 tax returns. Walter Nunnallee’s presentation will help you decide if the proposed or final regulations are best for a particular business. In addition, Walter explains the application of the safe-harbor provision treating real estate rentals as §199A Qualified Business Income. Walter’s presentation covers all major aspects of the proposed and final §199A regulations including:
When Rental Income Qualifies For The 20% §199A Deduction;
Treatment Of Wages Paid To S Corp Owners And Guaranteed Payments To Partners;
When An “Aggregation Election” May Be Made, When The Election Is Advisable, And How To Make The Election;
Clarification Of When A Business Is A “Specified Service Trade Or Business” (SSTB), Including Planning With The Anti-Abuse Rules To Prevent The Loss Of A §199A Deduction;
§199A Reporting Rules (i.e., Reporting §199A Information On Forms K-1);
Whether Activities Of A Business Are One Trade Or Business Or Separate Trades or Businesses;
Which Produces The Largest §199A Deduction, S Corp, Partnership, Or Proprietorship?; And
The seminar materials will include a 100+ page outline from the February, 2019 presentation plus a supplement reviewing §199A developments since Walter’s February presentation.
Whether Income from a Rental Real Estate Activity Qualifies for the 20% Deduction;
The Key Differences Between the Final Regulations and the Proposed Regulations;
Which Business Income Is “Qualified Business Income” under Section 199A;
Whether an “Aggregation Election” Is Available and Advisable (And How the Election Is Made);
Whether a Business Activity Constitutes a “Specified Services Trade of Business” (SSTB) That May Not Qualify for the 20% Deduction;
What Information Is Required to Be Reported by Pass-Through Entities and How it Will Be Reported;
Whether an Anti-Abuse Provision Applies That Could Cause an Otherwise Qualifying Deduction to Be Reduced or Lost Altogether;
Whether a Business Operation Represents a Single Trade or Business or Multiple Trades or Businesses.
Don Farmer, CPA, PA
Professional Area of Focus
CPE Field of Study
Who Should Attend
CPAs and Finance Professionals with an interest of Tax.