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Section 199A S Corp Considerations

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Last updated: 24 Nov, 2018
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By Jason Watson ()
Posted November 23, 2018

Section 199A deduction also known as the Qualified Business Income Deduction (QBID) arises from the Tax Cuts & Jobs Act of 2017. This is a significant tax break for small business owners but there are rules and limits of course.

As with any major revision to the tax code, there will be modifications and interpretations which will change how Section 199A can be used for pass-through businesses such as S Corps and partnerships. On August 8, 2018, the IRS releases Proposed Regulations 1.199A that introduced new definitions, procedures and restrictions. Here is a quick list links to various things that we’ve put together for Section 199A enthusiasts-

www.wcgurl.com/8305

Section 199A Main Web Page

www.wcgurl.com/8317

Section 199A Updated (after proposed regs)

www.wcgurl.com/8330

Section 199A FAQs

www.wcgurl.com/8321

Section 199A Proposed Regs (1.199A)

www.wcgurl.com/8313

Section 199A Tax Return Samples

www.wcgurl.com/8320

Section 199A Salary Optimization

Stay tuned to updates as additional guidance is released by visiting our blog-

www.watsoncpagroup.com/blog

Taxpayer's Comprehensive Guide to LLCs and S Corps : 2019 Edition
This KB article is an excerpt from our book which is available in paperback from Amazon, as an eBook for Kindle and as a PDF from ClickBank. We used to publish with iTunes and Nook, but keeping up with two different formats was brutal. You can cruise through these KB articles, click on the fancy buttons below or visit our webpage which provides more information at-

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www.watsoncpagroup.com/book

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Chap 7 - Section 199A Deduction Analysis       Calculating the Qualified Business Income Deduction