Building by Example: QBI Case Studies

Attend this session to apply the knowledge gained from earlier sessions in computing the Section 199A Qualified Business Income Deduction available to the taxpayer. Participants will be provided assumptions for examples, from the less complex to the more complex, in learning how the QBID will benefit clients. This will lead the participant to determine if alternative entity structures and arrangements might increase the client’s deductions.

At the end of this session, the participant should be able to:

• Distinguish QBI from non-QBI
• Recognize the overall limitation to arrive at the deduction in computing taxable income
• Determine if income from a specified service business qualifies as QBI
• Apply the limitations of wages and investment in qualified property in arriving at the QBID for a high income taxpayer