Section 199A: Lessons Learned After the First Filing Season (LLFS)

Karen E. Davis, EA, Lance G. Weiss, CPA, CVA, Eric Yauch, JD, LL.M., Mike Tucker, CPA, LL.M.
  • 3
  • Intermediate
  • Taxes
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Individual course: $89
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Of the many benefits the Tax Cuts and Jobs Act provided to taxpayers, none was more beneficial, or more complex statutorily, than Section 199A. This program distills the experiences many tax practitioners had over the last tax season calculating and applying this large deduction for taxpayers. Our experienced panelists will discuss challenges faced and practical strategies to maximize the benefit of the deduction for their clients. The panel will also cover implementation challenges relating to Section 199A and lessons learned that can be brought to bear when advising clients in 2019.

Major Topics:

  • Issues our panelists faced during the 2018 tax season in applying and calculating Section 199A
  • Advice and planning suggestions to give clients for 2019 based on 2018 tax season experiences
  • Challenges in determining when a trade or business is a specified service trade or business
  • When rental activities constitute a trade or business
  • When and how to aggregate trades or businesses

Learning Objectives

  • Recognize important planning and compliance lessons regarding Sec. 199A that resulted from practitioner experiences computing, applying and maximizing this deduction
  • Advise clients regarding Section 199A issues based on lessons learned when preparing 2018 tax returns

Tax practitioners who anticipate advising clients with respect to how and when a taxpayer can take a Section 199A deduction

A basic understanding of the tax rules relating to individual income tax




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