The §199A 20% small business deduction is one of the largest opportunities in the Tax Cuts and Jobs Act. This class is designed for lawyers, financial advisors, trustees and CPAs that need to explore the limitations of the 199A deduction for estates and trusts and how to design strategies that will help your clients optimize the deduction.

This course will cover the following concepts:

• Receive an overview of the 20% pass-through business deduction
• Develop an understanding of “Specified Service” and “Non-Specified Service” Businesses
• Review of IRC Section 643(f)’s Two Trust Rule
• Create trusts to obtain new $163,300 limitations
• Discover how to create beneficiaries of separate trusts without violating IRC §643(f)
• Understand the wage and capital test
• Planning for Non-Specified Service Businesses
• Using 754 elections to create additional qualified property
• How to use defined benefit and defined contribution plans to reduce Specified Service Business income
• Restructuring to improve the 20% deduction
• Learn how DNI can be shifted from estates and trusts to increase the 199A deduction
• Understand how the 199A deduction works at the trust and estate levels
• Traps for the unwary not distributing “199A income” to trust and estate beneficiaries

Your certificate will be awarded upon successful completion of the course requirements which include a video lecture that will be followed by a 10 question final exam.