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OnDemand Course

Intensive Introduction of the New IRC Section 199A

Learn an overview of the New IRC Section 199A and understand what is best suited to help your clients.

Section 199A became effective on January 1, 2018. It provides millions of owners of pass-through businesses with federal income tax deductions of up to 20% of their net business income. For many of these business owners, maximizing their Section 199A deduction could make the difference between business success and business failure. Section 199A is a long, complex and difficult section in the Internal Revenue Code, but its basic provisions can be explained in plain English that non-tax lawyers and their business owner clients can understand. After learning this information, you will be able to explain Section 199A to your clients and, in some cases, explain to them how to maximize the Section 199A deductions available to them.

Runtime: 97 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Section 199A--Introduction

  • Why Congress Enacted Section 199A
  • Basic Section 199A Terms-Definitions and Explanations
  • Basic Substantive Provisions of Section 199A
  • Why Section 199A Is Important to Millions of American Business Owners

How to Compute Section 199A Pass-Through Deductions for Clients

  • Computations for Clients Whose Taxable Income Does Not Exceed Their "Threshold Amount"
  • Computations for Clients Whose Taxable Income Is Within Their "Phase-in Range"
  • Computations for Clients Whose Taxable Income Exceeds Their Phase-in Range

Helping Clients Choose Between Section 199A and Subchapter C

  • Why Some Clients Should Choose Between Section 199A and Subchapter C
  • Key Factors in Making the Choice

The Need of Many Pass-Through Business Owners to Restructure Their Personal and Tax Arrangements in Order to Obtain or Maximize Their Section 199A Pass-Through Deductions

  • Why Restructuring Is Often Necessary
  • Main Types of Restructuring

How to Explain Section 199A to Clients If You Aren't a Tax Lawyer

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on October 4, 2018.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • NM CLE 1.5
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.5 hours of credit.
     
  • OH CLE 1.5
     
  • This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 1.5 CLE credit hours. Please note: No more than twelve (12) hours of self-study CLE credit for any biennial reporting period may be earned by an Attorney or Judge under Regulation 409.2. To fulfill CLE requirements for self-study, web-based programs, you must complete 100% of the polling questions during the program. Your hours will be filed electronically within thirty (30) business days by Lorman Education Services provided you fulfilled 100% attendance and polling questions answered.
     
  • OR CLE 1.5
     
  • Approved for 1.5 CLE credits in Oregon.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

John M. Cunningham

John M. Cunningham

McLane Middleton, P.A.

  • Former trial attorney with the Tax Division of the United States Department of Justice and a former member of the International Trade and Tax Department of Baker McKenzie LLP
  • Author of Maximizing Pass-Through Deductions Under Internal Revenue Code Section 199A, published by Wolters Kluwer, an international legal and tax information service
  • Practice is focused on LLC formations and other transactions involving LLC law and tax and on advising clients on how to structure their businesses to maximize their section 199A pass-through deductions, section 199A services have saved his clients tens of thousands of dollars in federal income taxes
  • Author of Drafting Limited Liability Company Operating Agreements, also published by Wolters Kluwer, leading U.S. LLC formbook and practice manual
  • Former chair of both the corporate and tax sections of the New Hampshire Bar Association
  • Chaired and was a principal author of the Revised New Hampshire Limited Liability Company Act
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404693
Published 2018
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