Gain a better understanding of Section 199A so you are comfortable advising your clients in a manner they can easily digest and understand.
Since Section 199A of the Internal Revenue Code is still fairly new, practitioners are still cautious about advising their clients on what steps they need to take to receive the maximum benefits of the new code section. This information will allow you to have a better understanding of Section 199A so you are comfortable advising your clients. It will provide you with an overview of Section 199A and with an understanding of the rules so you can help your clients better plan. This material will allow you to be able to fully explain the importance of Section 199A and whom the section affects.
Learning Objectives
- You will be able to identify the fundamentals of 199A Code and Regulations.
- You will be able to determine which entity types benefit from 199A.
- You will be able to differentiate between income types and determine what is Qualified Business Income.
- You will be able to recognize a Specified Service Trade or Business (SSTB).
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Be Able to Breakdown the 199A Code and Regulations in a Manner Clients Understand
- Is There a Flow-Through Trade or Business?
- FlowThrough Entities
- Qualified Trade or Business
- Separate Trades or Businesses
- What Is Qualified Business Income?
- Do Taxable Income Based Limitations Apply?
- Threshold Amounts
- Phase in Ranges
- Is Qualified Business Income Limited by W-2 Wages or UBIA of Qualified Property?
- W2 Wage Limitation
- UBIA
- Is the Taxpayer in a Specified Service Trade or Business?
- When Can or Should a Taxpayer Aggregate Trades or Businesses?
Provide Practical Pointers to Clients
- Amending Agreements
- Analyzing Business Functions
Be the Expert and Maintain Up-To-Date Knowledge
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 11, 2023.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- MO CLE 2.0
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.6
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 100 Minutes.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
- RI CLE 2.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
- VT CLE 1.5
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WV MCLE 2.0
- This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
Enrolled Agents 2.0
- In accordance with the standards set forth in Circular 230 section 10.6, CE credits have been granted based on a 50-minute hour. This program qualifies for 2.0 Continuing Education Credit(s) for enrolled agents.
CPE/NASBA - QAS Self Study 2.6 including Taxes 2.6
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.6 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Morgan Klinzing
Troutman Pepper Hamilton Sanders LLP
- Partner at Troutman Pepper Hamilton Sanders LLP, resident in the Philadelphia office
- Practice focuses on federal and international income tax, with a focus on the private equity arena and pass-throughs
- Represents clients in domestic and cross-border M&A, fund formation and structure, reorganizations, and partnership agreements
- Frequent speaker for the American Bar Association and other professional groups on tax issues impacting flow-through entities and cross-border structuring
- LL.M. degree in taxation, New York University
- Can be contacted at [email protected] or 215-981-3456
Robb A. Longman, Esq.
Longman & Van Grack, LLC
- Managing member of Longman & Van Grack, LLC, a Bethesda, Maryland law firm
- Practices in the area of tax controversy and planning, business representation, and estate planning
- Represents his clients before the U.S. Tax Court, Maryland Tax Court, Internal Revenue Service, and state taxing agencies; in addition, he assists his clients in structuring business deals and estate planning
- Regular speaker for the American Bar Association, tax section on several issues such as structuring the sale of a business, Section 199A, and ethics
- Has written numerous articles for the Practical Tax Lawyer and other ABA publications
- Currently the council director of the American Bar Association’s tax section and has been the chair of the Maryland State Bar Association’s tax section
- Can be contacted at [email protected] or 240-324-7705
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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