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Qualified Business Income (QBI) Deduction (IRC §199A) – The Ins & Outs

Total Credits: 8 including 8 Taxes - Technical

Average Rating:
ACPEN Tax Institute |  IRS Approved |  Tax
J. Patrick Garverick, CPA, MT, CFP®
Course Levels:
8 Hours


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 introduce a new 20% deduction for qualified business income (QBI) for sole proprietors and pass-through entities. The cornerstone of this course is the comprehensive discussion of the newly enacted 20% QBI deduction regulations under IRC §199A including the newly released final regulations.


**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to

Basic Course Information

Learning Objectives


  • Once participants have completed this session they should be able to calculate, report and explain the newly enacted QBI deduction to their clients, colleagues and employees

Major Subjects
  • Walk through the operational rules of the detailed QBI deduction calculation, phase-in of the wage and capital limitation and phase-out of specified service trade or business income
  • Determine the W-2 wages & unadjusted basis immediately after acquisition (UBIA) of qualified property that are to be used for the wage and capital limitations
  • Define what qualified business income includes and excludes (e.g., reasonable S corporation compensation and partnership guaranteed payments)
  • Look at the trade or business aggregation, reporting and disclosure rules that apply to individuals
  • Review what a specified service trades or businesses (SSTB) is and how SSTB income is phased-out for taxpayers with taxable income above certain thresholds
  • Go over the reporting rules for S corporations and partnerships (i.e., relevant passthrough entities (RPEs)) and how to show each owner’s allocable share of QBI, W-2 wages, and UBIA of qualified property attributable to each such trade or business on their schedule K-1

Course Materials


J. Patrick Garverick, CPA, MT, CFP® Related seminars and products:

Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.

In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants, and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.

During his time in college Pat earned a letter as a member of the Ohio State Basketball squad. He remains a stanch supporter of the sports programs at his alma mater.

Additional Info

Basic Course Information

Advanced Preparation None
Course Developer J. Patrick Garverick
Date Added to Catalog 07/22/2019
Designed For Professionals in public or private practice in need of an in-depth training of the 20% QBI deduction under IRC §199A
Prerequisites None
Yellow Book No

Additional Information

Course Registration Requirements Online Registration
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Complaint Resolution Policy Please contact Anne Taylor for any complaints., (972-377-8199).
Instructional Delivery Method Group Internet Based
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:



Overall:      4.7

Total Reviews: 21


Fran H - Houston, Texas

"Good course."

Michael R

"Very useful and detailed"

Diana W

"One of the best experiences i had with this teacher. "

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