Course Description

Even though it has been around several years, many practitioners fail to take full advantage of the QBI deduction due to its complexity and many nuances. In this course, we will discuss how to maximize the QBI deduction. We will get into the details of what QBI includes (and doesn’t include), which entity structures work best for the QBI deduction, and what to do if we have negative QBI. While the QBI deduction is only one deduction on the tax return, for small business owners, it may be the largest and most important deduction that they can take!

Learning Objectives

  • State which activities are eligible for a QBI deduction and any limitations.

  • Identify planning techniques to increase the QBI deduction.

  • Recognize which entity types may increase an equity owner’s QBI deduction.

Additional Required Materials

  • Level: Intermediate

  • Field of Study: Taxes (NASBA); Tax Planning (CFP); Federal Taxation (IRS)

  • Who Should Attend: Tax practitioners and financial advisors who work with small business owners on tax planning and tax strategy.

  • Required Knowledge: Basic understanding of flow-through entity taxation

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.