The 20% Qualified Business Income Deduction (“QBID”): Insight and Planning Opportunities. Learn how to Prepare Your Clients for the Biggest Tax Break in 36 Years.
Put on your seatbelt and hold on. Congress has provided a major tax break to sole proprietors, rental real estate owners, and pass-through businesses. We’ll dive into the new “20% passthrough deduction” also known as the QBID. The approach will be on practical planning and focused on reducing your clients’ taxes.
Course Publication Date:
October 17, 2019
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or can be purchased for
$20.00!
| Author: | Greg White |
| Course No: | TAX-QBID-14069 |
| Recommended CPE: | 2.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Basic |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Taxes
Webinars - On Demand
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Learning Objectives
- Identify total annual expected tax savings arising from the qualified business income deduction.
- Identify types of income that qualify for the QBID.
- Identify what level of income results in taxpayers being treated as “hamburger” taxpayers (i.e., not subject to the wage and wage/property limit).
- Recognize the restrictions that apply only to higher income taxpayers.
- Recognize the “cliff effect” that arises for taxpayers in phase-out territory and apply tax planning techniques to reduce taxes.
- Identify the effect on the QBID of a partnership paying guaranteed payments to its partners.
- Recognize “hamburger” taxpayers for purposes of the QBID, and the application of the wage and wage/property limits to them.
- Recognize whether the “reasonable compensation” rules apply to guaranteed payments received by partners.