Introduction to New Passthrough Deduction Under Code § 199A (Update)

As part of the 2017 Tax Cuts and Jobs Act, Congress enacted Section 199A, which provides a 20% deduction for the qualified business income that a taxpayer receives from sole proprietorships, partnerships, and S corporations. The statute has complicated rules relating to what qualifies as qualified business income and what types of businesses are eligible for the deduction. This program, presented by Roberts & Holland attorneys Vivek Chandrasekhar and Aaron Gaynor, walks through these rules and considers potential structures to maximize the benefits of the statute. It also describes the proposed regulations that were released in August 2018, which provided much needed guidance but left certain questions unanswered.

Learning Objectives:

1. Gain a comprehensive overview of deductions on qualified business income
2. Explore potential structures to maximize the benefits of the statute
3. Review examples explaining how the deduction will be applied
4. Discuss what might change under the newly released proposed regulations