The Tax Cuts and Jobs Act (TCJA) included a new deduction in Section 199A, the qualified business income deduction (QBID). That deduction of up to 20 percent of qualifying domestic business income could dramatically lower the effective tax rates on businesses.
The Treasury Department and IRS have issued the first round of proposed regulations in an attempt to answer many of the difficult questions raised by QBID, but also to prevent certain planning techniques. This webinar will go beyond the basics to focus on the most significant aspects of QBID and the proposed regulations.
At the conclusion of this session, participants will be able to:
- Understand the key aspects of the Section 199A proposed regulations.
- Identify planning techniques that are either allowed or curtailed.
- Understand actions that can be taken now to maximize QBID.
Presenters
- Kurt Piwko, national tax office partner; Plante Moran
- Amy Forester, tax partner; Plante Moran
- Stephen Eckert, national tax office manager; Plante Moran
- Michael Fitzgerald, tax partner; EKS&H
