IRC 199A Refresher - What Opportunities Are Still Out There?
  • CODE : NICK-0031
  • Duration : 60 Minutes
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Nick Preusch CPA, JD, LLM, is a tax manager with PBMares, LLP. Nick has participated in helping high wealth individual and large business entities with complex tax compliance, along with specializing in international, not-for-profit tax issues, and tax ethics issues.

Nick has also worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nick is a graduate of Carthage College with a BS in Accounting and Business, the University of Connecticut with an MA in Accounting, Case Western Reserve University with a JD, and Georgetown University with an LLM in taxation. Nick has also authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties, and Circular 230 Enforcement, published by Thomson Reuters. He has lectured nationally on topics such as ethics, complex tax transactions, and IRS practice and procedure.

Currently, Nick is an adjunct professor at the University of Mary Washington. Nick has been recognized as the Top 5 Under 35 CPAs in Virginia by the VSCPA in 2017 and CPA Practice Advisor’s Top 40 Under 40. He is a member of the VSCPA’s Tax Advisory Committee and Ethics Committee, and the AICPA’s Tax Practice and Responsibilities Committee.


The Tax Cuts and Jobs Act of 2017 introduced a new provision, IRC 199A, which provides a 20% deduction to pass-through business owners on qualified business income. The deduction applies to a range of entities, including sole proprietorships, partnerships, LLCs, S corporations, and some trusts and estates.

This course will provide a detailed explanation of IRC 199A, covering its complex rules and limitations. Participants will learn how to calculate the deduction, what types of income qualifies, and how to maximize the benefit for their clients.

Areas Covered    

  • Explain the purpose and scope of IRC 199A
  • Identify the types of businesses eligible for the deduction
  • Calculate the qualified business income (QBI) and the 20% deduction
  • Understand the limitations and phase-out thresholds of the deduction
  • Analyze the impact of wages and property on the QBI calculation
  • Describe the special rules for specified service businesses and the limitations imposed on them
  • Evaluate strategies to maximize the deduction for clients, including entity structuring and income shifting

Course Level- Intermediate

Who Should Attend

Tax professionals

Why Should You Attend

With COVID in the rearview mirror, we can start focusing back on the Tax Cuts and Jobs Act. The IRC 199A deduction for Qualified Business Income is one of the best deductions that small business owners can have. With a maximum amount of 20% of qualified business income, the deduction can significantly reduce the amount of taxes our clients will pay!

This course will help you understand the ins and outs of the deduction in order to make sure your client is getting the most out of the deduction.

  • $200.00



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