The Tax Cuts and Jobs Act of 2017 (TCJA) impacts tax planning and income tax liability for many taxpayers. Business owners of pass-through trades or businesses may benefit from the Section 199A pass-through deduction, a key part of the TCJA.

This course explores the Section 199A pass-through deduction. It is divided into three sections: calculating the deduction for business owners with taxable income below the threshold, for those above the threshold, and for those above the threshold whose businesses are specified service trades or businesses (SSTBs).

In this course, you will:

• Learn how to compute the pass-through deduction with examples.
• Understand how to determine W-2 wages and the unadjusted basis of qualified property (UBIA).
• Define qualified business income (QBI), qualified REIT dividends, and qualified publicly traded partnership (PTP) income, including their special rules.
• Explore the aggregation rules for the deduction.
• Identify trades or businesses considered specified service trades or businesses (SSTBs) and those excluded from the deduction.
• Discuss special rules for computing the deduction for relevant pass-through entities (RPEs), publicly traded partnerships (PTPs), trusts, and estates.

Learning Objectives

Upon completing this course, you should be able to:

• Explain how to compute the Section 199A deduction for pass-through business owners whose taxable income is:
  • Below the applicable threshold
  • Above the threshold but within the phase-in range
  • Above the phase-in range
• Determine W-2 wages and the unadjusted basis of qualified property (UBIA).
• Define qualified business income (QBI), qualified REIT dividends, and qualified publicly traded partnership (PTP) income, including their special rules.
• Recognize the aggregation rules for the Section 199A deduction.
• Identify trades or businesses considered specified service trades or businesses (SSTBs) that may not be eligible for the deduction.

This course is ideal for business owners, tax professionals, and financial advisors. It helps you understand and use the Section 199A pass-through deduction. Enroll now to enhance your tax planning and reduce your tax liabilities.