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
all access membership or
webinar 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.