Don Farmer's Sec. §199A QBID: Foundational Rules & Planning Strategies
Overview
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The 20% QBID can be a game-changer for your clients — if you know how to make the most of it. In part one of a two-part seminar, we’ll take a deep dive into the ground rules of §199A and break down the tax planning moves that can help you maximize this valuable deduction. You’ll walk away with clear strategies you can put into action, making sure your clients get every dollar they’re entitled to.
This course is part of a two-seminar series. Take it as a stand-alone seminar or sign up for the entire series for a comprehensive passive activity training.
Highlights
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Which items of income and expense are excluded from the QBID?
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Planning for LLCs and their members.
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How to maximize the QBID for LLCs.
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How to avoid getting stung by guaranteed payments.
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The two most important rules of §199A that we all need to be familiar with.
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How to minimize taxes on the sale of a business by utilizing the QBID.
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Tax planning for QBID “cliffs” – how to give optimal advice to your clients.
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How carryovers (passive, basis limitation, etc.) have a special treatment under §199A.
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QBID planning for estates and trusts.
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Hot off the presses: New Tax Forms for the QBID.
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Penalty changes for clients who take the QBID – how should you reduce the possibility of client penalties and preparer penalties?
Prerequisites
None
Objectives
- Identify methods to increase the QBID for LLCs and their members.
- Identify methods to reduce tax on the sale of a business using the QBID.
- Reduce the risk of penalties (both for clients and preparers).
- Apply the best method to advise clients who are in the “phase out” range.
Leader(s):
Leader Bios
George Koutelieris
Specializing in all phases of tax work, including planning and consulting on complex tax transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners.
Non-Member Price $99.00
Member Price $79.00