Qualified Business Income Deduction: Tax Planning Opportunities and Pitfalls

The Tax Cuts and Jobs Act is the biggest change to the US tax code in over 30 years. It is imperative that you learn about the significant tax law changes made to the way unincorporated businesses will be taxed starting with 2018 tax year.

This course discusses the impact of the new tax law on partnerships, S corporations, Trusts and Unincorporated businesses including a detailed explanation of the new Qualified Business Income (QBI) Deduction, available only to unincorporated businesses.

Topics covered include:

• Definition of a Qualified Business
• Businesses included
• Businesses excluded
• Limitations on the Qualified Business Income Deduction
• Reporting requirements for pass-through entities
• Lower tax rate from QBI deduction v. lower corporate tax rate