This session will review the major changes legislated by the Tax Cuts & Jobs Act (TCJA). Special attention will be placed on the term of art phrase "net capital gain" and the provisions of the new Internal Revenue Code §199A (Qualified business income). The proposed regulations for §199A will also be discussed with a special look at what constitutes a Specified Service Trade or Business (SSTB) and the correct calculation of the deduction in various situations. (3CE).
- Gain familiarity with the new tax provisions relevant to the 2018 Form 1040.
- Understand the definition of "net capital gain" (a term of art)
- Identify when a trade or business constitutes a Specified Service Trade or Business (SSBT)
- Correctly calculate the deduction for Qualified business income as defined in §199A
OUR FEATURED SPEAKER
Francis X. Degen, EA
Frank Degen, EA is a self employed practitioner in Setauket (Long Island), New York. He has a Bachelors degree in mathematics from Iona College and a Masters degree from Johns Hopkins University. He became an Enrolled Agent in 1984.
Frank is a fellow of the National Tax Practice Institute. He is also a non-attorney admitted to practice in the United States Tax Court.
Frank served two terms as President of the National Association of Enrolled Agents (NAEA). His first term was during the 2005-2006 year; his second term was during the 2012-2013 year. He served as NAEA GRC Chair for 4 years (2006-2010). He also previously served two terms as an NAEA Director. He was a three term president of the New York State Society of Enrolled Agents (NYSSEA) and was awarded the NYSSEA Founders Award in 1999.
He has been quoted extensively in publications such as The Wall Street Journal, Business Week, US News and World Report, USA Today and Kiplingers. He has done many radio interviews for NAEA (including repeated interviews with MarketPlace Money on National Public Radio), is a three-time panelist on TaxTalkToday and has appeared on the NBC Nightly News. He has testified on behalf of NAEA before the IRS Oversight Board, the Senate Finance Committee and the House Ways & Means Oversight Sub-Committee. He was chosen three times by Accounting Today to its "Top 100" list. He served a three year term on the Internal Revenue Service Advisory Council (IRSAC) and was Chair in 2009.
CE Credits: 3 IRS CE or 3 CFP® CE or 3 CPA CPE
Please Note Our New Location:
APA Hotel Woodbridge
120 Wood Avenue South
Islein, NJ 08830
Jenny Breedy, Secretary
New Jersey Society of Enrolled Agents
(732) 448-0753
secretary@njsea.org
