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Qualified Business Income Year 2 Traps and Tricks

QUALIFIED BUSINESS INCOME YEAR 2 TRAPS AND TRICKS

Cost $12.50
Presentation Length 1.0 hour

Recorded DateDecember 23, 2019
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Join Jackie Meyer, CPA, and AICTC (Certified Tax Coach) of the year, in a festive discussion of the QBI deduction and navigating traps and tricks.  
 
As year two of TCJA reform comes to a close, it's vital to look back on QBI lessons learned and look forward to more advanced strategies. Everyone scrambled to add the QBI deduction in 2018 and try to apply the principals. We will look at common traps tax firms may run into, such as QBI carryover loss limitations, what to do if the K-1 doesn't provide correct information and whether an entity is an SSTB.
 
We will also refocus on tax planning strategies surrounding QBI, like aggregation rules (with case studies), eliminating the phaseouts for high earners, and providing cheat sheets/checklists to streamline your 2020 tax season.
 
Learning objectives:


  • A brief review of phaseouts and a detailed QBI flowchart

  • Understand common traps and the confusion in 2018 surrounding QBI

  • Identify red flags and opportunities in the tax code

  • Properly project and maximize the QBI deduction for tax planning

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Jackie Meyer has been recognized as a 40 under 40 honoree since 2018. Having founded an award-winning CPA firm Meyer Tax Consulting from 2010 to 2022, she is now the founder of TaxPlanIQ, a SaaS Tax Advisory Platform selected for the AICPA 2023 Accelerator Cohort. She is also a Coach of the Certified Concierge Accountant Mastermind and Certified Concierge Tax Accountant.

These experiences uniquely position Jackie to provide insights and best practices that can help transform accounting firms. Her approach, grounded in The ROI Method(TM), focuses on changing pricing modules to align better with client value and addressing cultural and workaholic tendencies that can lead to burnout and turnover, offering transformational solutions to help firms thrive in the face of challenges.

She leads a vibrant Facebook community of "Accounting Firm Influencers" who continue these discussions daily, sharing ideas and driving change in the profession. Jackie aims to promote better health, wealth, and relationships for accountants. With her leadership and expertise, the future of the accounting profession is bound to be bright and full of opportunities.

 

About Our Presenter

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Our CPA firm, is a full-service, tax preparation accounting firm focusing on family owned businesses and advanced personal taxation. We provide tax preparation with the personalization that is needed with high net wealth clientele's evolving needs. As a CPA firm, we keep up-to-date with the changing tax laws and adhere to certain ethical standards and codes of professional conduct established by governmental bodies and peer organizations.