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Intensive Introduction of the New IRC Section 199A

Date:Thursday, October 4, 2018
Time: 1:00 - 2:30 pm EST
Length: 90 minutes

Sponsored by Lorman Education Services


Registration for Session Only: $199.00

Registration plus Session Recording and Written Materials: $268.00
 

Description:

Learn an overview of the New IRC Section 199A and understand what is best suited to help your clients.

Section 199A became effective on January 1, 2018. It provides millions of owners of pass-through businesses with federal income tax deductions of up to 20% of their net business income.

For many of these business owners, maximizing their Section 199A deduction could make the difference between business success and business failure. Section 199A is a long, complex and difficult section in the Internal Revenue Code, but its basic provisions can be explained in plain English that non-tax lawyers and their business owner clients can understand.

After learning this information, you will be able to explain Section 199A to your clients and, in some cases, explain to them how to maximize the Section 199A deductions available to them.

Areas Covered in the Session:

Section 199A—Introduction

  • Why Congress Enacted Section 199A
  • Basic Section 199A Terms-Definitions and Explanations
  • Basic Substantive Provisions of Section 199A
  • Why Section 199A Is Important to Millions of American Business Owners

How to Compute Section 199A Pass-Through Deductions for Clients

  • Computations for Clients Whose Taxable Income Does Not Exceed Their "Threshold Amount"
  • Computations for Clients Whose Taxable Income Is Within Their "Phase-in Range"
  • Computations for Clients Whose Taxable Income Exceeds Their Phase-in Range

Helping Clients Choose Between Section 199A and Subchapter C

  • Why Some Clients Should Choose Between Section 199A and Subchapter C
  • Key Factors in Making the Choice

The Need of Many Pass-Through Business Owners to Restructure Their Personal and Tax Arrangements in Order to Obtain or Maximize Their Section 199A Pass-Through Deductions

  • Why Restructuring Is Often Necessary
  • Main Types of Restructuring

How to Explain Section 199A to Clients If You Aren't a Tax Lawyer

Credit Information (Sponsored by Lorman Education Services):

  • CLE
  • NALA
For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Instructor Profile:

John M. Cunningham, Law Offices of John M. Cunningham, PLLC, Of Counsel, McLane Middleton, P.A.

  • Principal of the Law Offices of John M. Cunningham, PLLC, and he is of counsel to the New Hampshire-based law firm of McLane Middleton, P.A.
  • Former trial attorney with the Tax Division of the United States Department of Justice and a former member of the Foreign Trade and Tax Department of the international law firm of Baker McKenzie
  • Practice is focused on handling LLC matters, including LLC formations, and on assisting clients to maximize their pass-through deductions under new Internal Revenue Code section 199A
  • Frequently teaches seminar in his fields of practice for the American Law Institute, bars associations, law firms, accounting firms and business groups
  • Principal author of Drafting Limited Liability Company Operating Agreements, the leading U.S. LLC formbook and practice manual, published by Wolters Kluwer Law & Business; and he is the author of Maximizing Pass-through Deductions under Section 199A—Section 199A Practice Manual, also published by Wolters Kluwer Law & Business
  • J.D. degree, University of Pennsylvania Law School
  • Member of the American Bar Association and the New Hampshire and Massachusetts Bars
  • Can be contacted at lawjmc@comcast.net or (603) 856-7172

(Not available outside the US)