The 2017 Tax Cuts and Jobs Act (TCJA) impacts tax planning and liability, with Section 199A being a significant change for pass-through businesses, which pass income and expenses to owners without paying corporate tax. This course covers the Section 199A Pass-Through Deduction, including calculations for business owners below and above the income threshold, and for specified service trades or businesses (SSTBs), examining which businesses qualify as SSTBs.

• Calculate of the pass-through deduction for multiple businesses
• Determine W-2 wages and the unadjusted basis of qualified property immediately after its acquisition (UBIA)
• Define qualified business income (QBI), qualified REIT dividends and qualified publicly traded partnership (PTP) income and the special rules applicable to them
• Recognize the aggregation rules applicable to the § 199A deduction
• Identify the trades or businesses considered specified service trades or businesses (SSTBs) that may be ineligible for the pass-through deduction

Tax Year: 2023-2024