The "Tax Cuts and Jobs Act" added new Section 199A to the Code, granting a 20% deduction against 'qualified business income' for S corporation shareholders. But how does the deduction really work? Who is eligible and who isn't? This session will cut through the confusion surrounding this controversial new provision.
identify changes made to the treatment of S corporation shareholder by the Tax Cuts and Jobs Act
• Understand how to compute the Section 199A deduction
• Identify how to compute qualified business income eligible for the deduction
• Define a 'specified service business' ineligible for the deduction