SECTION 199A/20% QBI DEDUCTION/TCJA

Description:

SECTION 199A/20% QBI DEDUCTION/TCJA 
Topics include an extensive analysis of S 199A (the up to 20% deduction for qualified business income) including the 20% of taxable income (less NCG) limitation, the W-2 wage limitation, the exception for taxable income not in excess of a threshold amount and phase-in of the limitation; definition of W-2 wages; 2.5% of unadjusted basis immediately after acquisition of qualified property; definition of qualified business income; treatment of reasonable compensation and guaranteed payments; definition of trade or business, qualified trade or business, and treatment of rental real estate; definition of specified service trade or business and the exception based on taxable income; definitions of taxable income and threshold amount; placement of QBI deduction on page 2 of Form 1040; deduction applied at partner and S shareholder levels; deduction allowed for AMT; effective for tax years beginning after 12/31/17; small business accounting reform and simplification; other provisions of TCJA; and more. (11/29ME . Registrants will be emailed and asked to print or bring an electronic version of the materials with them to the seminar.

$3/registration donated to Junior Achievement, Maine by MECPA

On your own for lunch, approximately 12:10-1PM

Highlights:

Key provisions of 2017 TCJA- effective for tax years beginning after December 31, 2017.

Objectives:

Develop an understanding of the landmark 2017 Tax Cuts and Jobs Act legislation to better address and respond to client concerns and inquiries.

Prerequisites:

Familiarity with tax return preparation and reporting.

Category:

TX

Credits:

8

Registrations are currently closed.

Vendor:

Boston Tax Institute, Ltd.

Location:

Fireside Inn & Suites
81 Riverside Street
Portland, ME 04103
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Start:

November 29, 2018 8:30am

End:

November 29, 2018 4:30pm

Check-in starts at 8:00am

Leader:

Gauthier, Lucien P.

Lucien P. Gauthier, Esq., LL.M., CPA: Boston University Collage of Business Administration (B.S. in B.A.); Boston University School of Law (Juris Doctor and Master of Laws Degrees in Taxation); George Washington National Law Center (Master of Laws); Formerly an Adjunct Assistant Profession in the Bentley College Graduate Tax Program; Tax Attorney in private practice for 50 years in the Boston area.

Designed For:

EXPERIENCED PRACTITIONERS
No

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