Date : August 7th , 2026

Time: 11am ET | 10am CT | 9am MT | 8am PT

Duration: 390 Minutes

Description:

The Tax Cuts and Jobs Act (TCJA) and the One Big Beautiful Bill (OBBB) Act introduced sweeping changes to individual and corporate taxation, most notably the 20% qualified business income (QBI) deduction available to sole proprietors and pass-through entities. This course delivers an in-depth review of the QBI deduction under IRC §199A, focusing on the final regulations and related provisions that shape how the deduction is calculated.

Over a full-day session, participants will learn to calculate the 20% QBI deduction from start to finish covering the qualified business income component, the REIT/PTP component, wage and capital limitations, SSTB rules, and applicable taxable income thresholds. The course also examines which trades or businesses qualify under §162, how rental activities and SSTBs are treated, the mechanics of W-2 wages and UBIA, and the reporting obligations that partnerships and S corporations owe their owners.

Topics Covered:

• Calculating the combined qualified business income amount (QBI component plus REIT/PTP component).
• Determining which §162 trades or businesses qualify for the deduction, including rentals and SSTBs.
• Understanding the wage/capital limitation on the QBI component and the income-based phase-out of SSTB benefits above inflation-adjusted thresholds.
• Working through the simplified Form 8995 (for taxpayers below the threshold) versus the detailed Form 8995-A and its related schedules.
• Defining wages and UBIA for taxpayers subject to wage and capital limitations.
• Clarifying what counts as QBI, including items connected to the business such as self-employment tax, health insurance, and retirement plan contributions.
• Reviewing aggregation rules at both the entity and individual level.
• Understanding partnership and S corporation reporting responsibilities on Schedule K-1.
• Explaining how NOL modifications and §461(l) excess business loss limitations affect the QBI calculation

Learning Objectives

• Calculate the 20% qualified business income deduction under IRC §199A.
• Identify which trades or businesses qualify for the QBI deduction, including rental activities and specified service trades or businesses (SSTBs).
• Determine how taxable income thresholds, wage limitations, unadjusted basis immediately after acquisition (UBIA), and SSTB phase-outs affect the deduction amount.
• Apply Forms 8995 and 8995-A to compute and report the QBI deduction accurately.
• Recognize how aggregation rules, Schedule K-1 reporting, net operating losses (NOLs), and §461(l) excess business loss limitations impact the QBI computation.

Credits and Other information:

• Recommended CPE credit – 7.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 390 minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker 

J. Patrick “Pat” Garverick is a Certified Public Accountant based and most respected tax and financial education instructors in the profession. He began his career in public accounting in 1988 after earning his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. In 1992, he completed his Master of Taxation (MT) degree at Arizona State University and shortly thereafter launched his own tax and financial planning practice, combining deep technical expertise with day-to-day client advisory work.

In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®), a combination of credentials that allows him to bridge tax, retirement, and broader financial planning issues seamlessly in both his client work and his teaching. Since the early 1990s, he has been writing, reviewing, and delivering tax and financial planning continuing professional education courses across the country, with a particular focus on practical, case-driven programs that help practitioners apply complex rules to real-world returns and planning scenarios.