transcript   Transcript

Section 199A: Opportunities and Uncertainties Surrounding the New Deduction for Qualifying Pass-Through Income

Recorded on: Apr. 23, 2018
Running Time: 01:00:36

Full Transcript:



If you are a Privileged Member, just log in and start reading now! If you are not a Privileged Member, please click here to learn how unlimited access to PLI programs may be right for you and your firm.

To access the streaming media of this presentation, please purchase the corresponding seminar segment.

Taken from the Web Program Tax Cuts and Jobs Act Update 2018: Issues for U.S. Businesses and Individuals Recorded April 2018 in New York

CPE credit (NASBA QAS Self-Study) is available by completing and passing the program’s CPE Review & Exam.

Upon the successful completion of this program, the participant will be able to:

  • Recall the new deduction for qualifying pass-through income for non-corporate taxpayers allowed pursuant to Internal Revenue Code (IRC) §199A.
  • Recognize the issues involved in the calculation of gains and losses from a qualified trade or business (QTB) and the potential impact on the computation of the new deduction for qualifying pass-through income allowed pursuant to Internal Revenue Code (IRC) §199A.
  • Identify other definitional and interpretative uncertainties impacting the application of Internal Revenue Code (IRC) §199A’s deduction for qualifying pass-through income.

Course Overview:

This program will focus on:

  • The provisions of Internal Revenue Code (IRC) §199A’s deduction for qualifying pass-through income.
    • Overview.
    • Qualified trade or business (QTB).
    • Specified service trade or business (SSTB).
    • Grouping issues.
  • The issues involved in the calculation of gains and losses from a qualified trade or business (QTB) and the potential impact on the computation of the new deduction for qualifying pass-through income allowed pursuant to Internal Revenue Code (IRC) §199A.
    • Netting approaches.
    • Carryforward.
  • Other definitional and interpretative uncertainties impacting the application of Internal Revenue Code (IRC) §199A’s deduction for qualifying pass-through income.
    • Capital structure issues.
    • Limits on deduction.
    • W-2 wage issues.

CPE Program Level: Update

Intended Audience: CPA’s, tax accountants, tax lawyers, taxpayers, and others seeking the latest information on the implications of the Tax Cuts and Jobs Act (TCJA) with respect to the new deduction for qualifying pass-through income allowed pursuant to IRC §199A.

Prerequisites: A general understanding of the deduction for qualifying pass-through income allowed pursuant to IRC §199A.

Advanced Preparation: None

Instructional Method: QAS Self-Study

Updated: June 2018

Credit Information: 1 CPE credit is available upon completion of this program’s 3 content-review questions and a minimum passing score of 70% on the 5-question final exam.

Section 199A: Opportunities and Uncertainties Surrounding the New Deduction for Qualifying Pass-Through Income[01:00:36]
• When a business is a specified service trade or business
• When multiple activities should be aggregated or separated 
• Potential application of reasonable compensation principles
• Other definitional and interpretative uncertainties
Peter A. Furci, Phillip Gall, Dana L. Trier, Sara B. Zablotney

Presentation Material

  • Section 199A: Opportunities and Uncertainties Surrounding the New Deduction for Qualifying Pass-Through Income
    Peter A. Furci, Phillip Gall, Dana L. Trier, Sara B. Zablotney
  • Section 199A: Opportunities and Uncertainties Surrounding the New Deduction for Qualifying Pass-Through Income (Handout)
    Peter A. Furci, Phillip Gall, Dana L. Trier, Sara B. Zablotney
    • (s)
      Peter A. Furci ~ Debevoise & Plimpton LLP
      Dana L. Trier ~ Davis Polk & Wardwell LLP
      Sara B. Zablotney ~ Kirkland & Ellis LLP
      Share
      Email
      Transcript FAQ's
      • How Can I Access Transcripts?
        You must be a Member in good standing.

      • Can I access the Video?
        Yes, you can access the video if you have the Adobe Flash plugin installed. Click on the video camera icon when you mouse over each paragraph. The media will begin playback at that point.

      • Can I get CLE credit for reading the transcript?
        No, CLE credit cannot be earned for reading a transcript. CLE credit is issued only for verified attendance while watching a web program. If seeking credit, please verify the program's eligibility for credit and expiration date in your jurisdiction on the web segment launch page before commencing the program.
      
      • FOLLOW PLI:
      • twitter
      • LinkedIn
      • YouTube
      • RSS

      All Contents Copyright © 1996-2018 Practising Law Institute. Continuing Legal Education since 1933.

      © 2018 PLI PRACTISING LAW INSTITUTE. All rights reserved. The PLI logo is a service mark of PLI.