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We are approved to provide CPE/CE credits to Tax Professionals
- IRS
- NASBA
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Understand The Employee Retention Tax Credit And Section 199A Qualified Business Income Deduction
- Jun 13, 2023 Tuesday | 01:00 PM ET | 12:00 PM CT | 10:00 AM PT | Duration: 240 Minutes
- Credit: IRS Credits: 4.0 | NASBA Credits: 4.0 | QAS: 4.0 |
Webinar Instruction will be emailed on your registered email address 3 days prior to webinar | Web Download / e-Transcript will be shared in 7 working days from the date of webinar
Understand Employee Retention Credit under the CARES Act
The Employee Retention Credit (ERC) is a refundable credit that could be worth tens of thousands of dollars to small businesses that need the money. The Employee Retention Credit was added to the law by the CARES Act in March 2020. Since then, it has gone through multiple changes. Then, it was repealed retroactively by the Infrastructure Act of 2021. But what does all that mean for your clients? The ERC rules were subject to substantial ebb and flow, but many businesses still may qualify and don’t even know it.
This webinar provides details of the history of the ERC, who qualifies and what you can do now to help small businesses take advantage of what might be a substantial cash refund from the IRS.
Topics will include: :
- Legislative background of the ERC
- Evolution of the ERC
- Examination of what businesses qualify for ERC
- Determining specific qualifications
- Calculating the credit amount
- Interaction between ERC and PPP loans
- Potential effect on businesses of ERC repeal
- Potential ERC audits and related penalties
Learning Objectives:
- Define strategies and mechanics to claiming ERC alongside PPP forgiveness
- Outline the extension of ERC—including new rules
- Identify who qualifies (and does not) for ERC
- How to apply for employee retention credit?
- What is the deadline for employee retention credit?
- Is the employee retention credit taxable income
- List new opportunities under ARPA for start-up businesses
- Name strategies for churning out those 941s (and 941-Xs and 7200s) to cash in
Understanding Section 199A Qualified Business Income (QBI) Deduction
Many owners of sole proprietorships, partnerships, S corporations and some trusts and estates may be eligible for a qualified business income (QBI) deduction – that called the Section 199A deduction.
The Tax Cuts and Jobs Act (TCJA) was a major overhaul of our tax system that has lowered the income tax rates for individual and corporate taxpayers and introduced a new 20% deduction for qualified business income (QBI) for sole proprietors and pass-through entities. The cornerstone of this online continuing education course is the comprehensive discussion of the newly enacted 20% QBI deduction regulations under IRC §199A and other TCJA income tax provisions affecting individuals and businesses.
Topics will include: :
- What is & Who Qualifies “qualified business income”?
- Who qualifies for the qualified business income deduction?
- If you’re over the income limit
- In-depth analysis of the final Section 199A regulations
- Computing the Section 199A Deduction
- Negative QBI amount, netting and carryover rules
- W-2 wages and UBIA & their impact on QBI
- To determine which businesses are SSTB.
- Understand how to disclose to the IRS if an entity may be in an SSTB grey area.
- To explore how entity structure will change your SSTB calculations.
- To explain misc. SSTB provisions.
- How to qualify for the QBI deduction
- How the qualified business income deduction works
Who Will Benefit:
- CPA
- Enrolled Agents (EAs)
- Tax Professionals
- Attorneys
- Other Tax Preparers
- Finance professionals
- Financial planners
Speaker Profile:
Nick Preusch CPA, JD, LLM is a tax litigation consultant, premier proponent and advocate of taxpayer rights. For over three decades, Dan has been tremendously successful in his negotiations with the IRS. Regarded as one of the country’s premiere experts in IRS procedures, Dan provides people across the country with sound solutions to their tax-related problems. He has helped countless thousands of citizens solve personal and business tax problems they thought might never be solved. Furthermore, Dan’s proven techniques can effectively prevent IRS problems before they begin.
Dan is the author of over fourteen books, dozens of research reports and hundreds of articles. Dan’s work is regularly featured on radio and television as well as in major newspapers, leading magazines and trade publications nation-wide. His books have been recommended by prominent magazines and financial publications such as the Wall Street Journal, Money, Family Circle, Investor’s Business Daily. The Wall Street Journal ranked Dan's book, “The IRS Problem Solver”, as the number one tax book in America. Dan has written or contributed to major articles for Reader’s Digest, National Review, Reason, USA Today Magazine and others.
Dan was a consultant to the National Commission on Restructuring the IRS. He works with numerous public policy research institutes and presented testimony to Congress on several occasions. His testimony to the Senate Finance Committee blew the lid off IRS abuse and led to many new taxpayers’ rights and protections. He is admitted to practice before the United States Tax Court where he represents taxpayer across the nation
Credits and Other information:
- Recommended CPE credit – 4.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 4 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
IRS Credits
NASBA Credits
QAS
2. When are the continuing education credits reported to the IRS, HRCI, NASBA and other regulatory bodies ?
We reports the educational credits to the respective licensing/regulatory bodies in 5 business days.
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The credentials to log into your account is your EMAIL ADDRESS & PASSWORD used during account creation.
- If you’ve forgotten your password, please go to the login page and click on the ‘Forgot Password.’ Then enter your registered email id to receive the password reset email. Click on the link given in the email to enter your new password.
- If the face any challenge, please reach out to us via email support@pro2learn.com or contact our support team through live chat support. Our support line is 1-937-865-8027.Our support team is available Monday to Friday from 09:00 AM – 06:00 PM EST/EDT
4. How can I view /access the courses that I have registered for?
When you register for any of our webinars/product, you receive will the instruction 24 hours prior to the conference. Also, the instructions are avilable in your account under ‘My Webinars’ section.
5. How can I cancel my registration?
You can cancel your registration to by email at support@pro2learn.com. If you cancel your registration for the paid webinar, the amount shall be credited back in your payment method within 7 business days.
6. How can I download the learning materials/Handouts available for the webinars/Seminar?
The conference materials are available 4 hours prior to the webinar. You can download it from the webinar page or by logging to your account.
7. What are the system requirements to attend a live webinar?
Our seamlessly integrated with ZOOM, WebX and, Goto for delivering continuing education webinars. The system requirements are :
- An internet connection – broadband wired or wireless
- Speakers and a microphone – built-in, USB plug-in, or wireless Bluetooth
8. What are CPE Package Courses?
Our package courses are the bundles of various continuing education courses which have been specially designed to meet your continuing education requirements for a particular Qualification.
9. What is web download and transcript?
- The web download is the recording of the webinar. You will receive a link to download and save the webinar on your computer and watch it anytime and multiple times.
- The transcript is the detailed written material presented during the webinar.
10. What is an On demand session?
On demand session is when we conduct the webinar as per your available dates after the live training. You will get access to the training for 24 hours.
11. How do I access a previously purchased webinar, self-study course, Web Download, or package?
To access a course that you have already purchased, all you must have to create/log in to your account. Click on the "Log In" button in the top right of the screen. Once you are logged in, you will have immediate access to all your purchased CPE courses, packages and other self-service or you can write on support@pro2learn.com.
12. I took a webinar, where is my certificate?
We will email your certificate within 3 working days of the end of the webinar, or you can login your account at www.pro2learn.com. If you don’t receive the email within 3 working days of the end of the webinar, check your spam/junk folder. If it’s not there, we recommend that you send us an email at support@pro2learn.com or connect over the online chatroom.
Nick Preusch CPA
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