Tax reform: Section 199A final regulations {PFP Section}

Guest(s): Bob Keebler, CPA/PFS

Category: Technical

On January 18th, the IRS released the highly-anticipated final regulations on Section 199A for the qualified business income deduction for pass-through entities. In this podcast, Bob Keebler, CPA/PFS shares an overview of the IRS guidance that was released. Find out:

• What are the major changes in Final 199A regulations, including changes to the aggregation regulations and how to net income across businesses?
• What are the methods for calculating W-2 wages under Revenue Proc. 2019-11?
• What is the real estate safe harbor under Notice 2019-07?
• How do you use the basis increase with 754 election to compute UBIA?
• What do you need to know about the new proposed 199A regulations?

Access the related resources from this podcast:

• Impact of Tax Reform on Planning Toolkit
• AICPA Tax Reform Resource Center
• Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.