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Qualified Business Income (QBI) Revisited: Answering Accountants' Questions


Cost $20.00
Presentation Length 2.0 hours

Recorded DateMay 27, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

The IRS released final regulations for qualified business income (QBI) deduction. But many ambiguities and complexities remain. This webinar will address specific questions asked by CPAacademy members, and review the major points you need to know about QBI.

The program will include a quick overview of QBI with several examples. We’ll address questions, such as:

  • Does an S corporation always generate the largest QBI deduction?

  • How the QBI deduction affects itemized deductions, rental income (losses), retirement plan contributions and 754 Elections

  • When does aggregation work and why?

Learning Objectives:

  • Learn how to save time and avoid confusion about QBI as July 15 approaches

  • Understand the real estate safe harbor

  • Understand when to aggregate

  • How to balance salaries, Tentative Taxable Income, retirement plan contributions, and S elections

Not logged

Douglas Stives, CPA, MBA, is a full-time professor of accounting at Monmouth University in West Long Branch, New Jersey, where he was honored as “outstanding business professor of the year” in 2009. He completed a BS in BA, and an MBA at Lehigh University and started his career at Price Waterhouse in 1969. Doug joined a small firm that became The Curchin Group in Red Bank, New Jersey, where he was a partner for 34 years and continues as a consultant. In 1989 and 1990, Doug was the youngest president of the New Jersey Society of CPAs. He served the AICPA as a representative to Council, a member of the Tax Division Executive Committee, and chair of several committees. Doug is a frequent speaker for the AICPA and many state CPA societies. He’s been quoted in the New York Times, Wall Street Journal, Forbes, and other national publications and has appeared on CNN, CNBC, PBS, and the three major networks.

About Our Presenter

Monmouth was founded in 1933 to provide opportunity for higher education to area high school graduates who, in those Depression-era days, could not afford to go away to college. It was a two-year institution, holding classes only in the evening. Support from students and the community enabled the fledgling College to persevere and quickly assume its present private status. In 1956, Monmouth College was accredited by the state to offer four-year programs leading to the baccalaureate degree. Less than a decade later, it was authorized to offer master's degree programs. In March 1995, the New Jersey Commission on Higher Education granted Monmouth university status. Today Monmouth University offers 33 undergraduate and 21 graduate degree programs and a multitude of certificate programs. The University has been steadfast in its ongoing transformation as a first-choice destination school by progressively raising admission criteria for incoming students and enhancing the quality of its academic programs. Within its student body, 29 states and 28 foreign nations are represented. More than 1,600 undergraduates are resident students who enjoy a challenging learning environment on a campus that blends classic beauty with the latest technology. Monmouth continues to build upon its achievements by providing dynamic, first-tier, personalized education that empowers students to reach their full potential as leaders and make significant contributions to their community and society.