TCJA Intro to Optimizing QBID: Insight and Planning - Video CourseCode: 20-OPTQBID

2 Hr Video Self-Study

Description: 

This course takes a comprehensive, deep dive into the ground rules of QBID. We'll cover tax planning strategies to maximize the §199A 20% QBID.

We'll cover in depth:

·         Which items of income and expense are excluded from the QBID?
·         Planning for LLCs and their members.

o   How to maximize the QBID for LLCs.

o   How to avoid getting stung by guaranteed payments.

·         The two most important rules of §199A that we all need to be familiar with.
·         How to minimize taxes on the sale of a business by utilizing the QBID.
·         Tax planning for QBID "cliffs",  how to give optimal advice to your clients.
·         How carryovers (passive, basis limitation, etc.) have a special treatment under §199A.
·         QBID planning for estates and trusts.
·         Hot off the presses: New Tax Forms for the QBID.
·         Penalty changes for clients who take the QBID,  how should you reduce the possibility of client penalties and preparer penalties?

Learning objectives

Attendees will be able to:

1.      Identify methods to increase the QBID for LLCs and their members.

2.      Identify methods to reduce tax on the sale of a business using the QBID.

3.      Reduce the risk of penalties (both for clients and preparers).

4.      Apply the best method to advise clients who are in the "phase out" range.

Presentation Method: QAS Self-Study

Category: Taxes

CPE credit: 2 Hours

Program Level: Update

Prerequisites: None

Advance Preparation: None

Exam expiration date: Participants must submit exams for grading within one year from the date of purchase

For more information regarding refunds, complaints, or cancellation policies, please contact our offices at 817-477-0222.

American CPE, 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 credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors at their website, www.learningmarket.org

NASBA Sponsor number 108096