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Monday, June 24, 2019 Live

Qualified Business Income and More — Small Business Impacts of TCJA (E1906191)

8:30 AM - 4:30 PM EDT

Registration: 8:00 AM EDT

Ramada Plaza Hotel and Conference Center Cranbury - South Brunswick

390 Forsgate Drive, Exit 8A,
Jamesburg , NJ 08831

8 CPE Credits in TX

OVERVIEW

What is a specified service business and how is the deduction impacted by W-2 wages or investments in property? These questions as well as numerous other issues related to the qualified business income/passthrough deduction must be addressed by practitioners advising closely held businesses. This program will address these concerns and others, as well as incorporate up-to-date information on IRS guidance in this area. The law contained other provisions that will impact a small business to be covered in this course, including the revisions to bonus depreciation, the denial of deductions for entertainment and additional provisions that impact small businesses enacted as part of the Tax Cuts and Jobs Act.

DESIGNED FOR

Practitioners who work in or advise closely held businesses.

BENEFITS

  • Calculate the qualified business income amount for each trade or business of a taxpayer
  • Identify a specified service business as defined in Section 199A
  • Determine the applicability of and amount of the various limitations on the deduction
  • Describe the additional types of property eligible for the 100% bonus depreciation
  • Identify the types of entertainment that remain deductible and establish criteria for identifying meals that are and are not entertainment

HIGHLIGHTS

  • Qualified business income amount computation
  • Definition of a specified service business
  • Application of W-2 wage and qualified property limitations for QBI deduction
  • Changes to types of property eligible for increased bonus depreciation
  • Bar on deduction of entertainment expenses—what can still be deducted?
  • Status of issued IRS guidance in these areas, expected future guidance and how to advise clients until such guidance is finalized

COURSE LEVEL

Update

PREREQUISITES

General tax knowledge.

ADVANCE PREPARATION

None

ADDITIONAL NOTES

Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.

INSTRUCTOR

Randy Newton

Randy C. Newton, CPA

Nichols Patrick CPE, Inc.

Randy C. Newton, CPA, CVA, licensed as a CPA in North Carolina and South Carolina, is president and founder of NewtonCPA, PLLC. Randy’s area of expertise is in Corporate, Partnership, and Individual Income Tax Preparation -- utilizing a proactive tax planning model that streamlines, simplifies, and works to reduce tax liabilities for small taxpayers. In addition, he specializes in IRS representation work plus tax planning and research. He also has specialty areas in Business Valuation, as well as Financial Planning. Prior to the creation of his own firm, Randy worked with First Union National Bank (now Wells Fargo) in the Corporate Accounting and Capital Markets Divisions. Randy received his Accounting degree, Cum Laude, from Appalachian State University in 1992 and is a member of Phi Kappa Phi National Honor Society. As a CVA, Randy can place a certified value on closely held businesses for business owners seeking to sell, buy, or merge, or going through an ownership change. Randy is a member of the North Carolina Association of CPAs (NCACPA), former two­time president of the Charlotte Chapter of the NCACPA, and an active member of the American Institute of CPAs (AICPA).

PRICING

$279.00 - Member

$379.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

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