This course will go into specifics of Specified Services Trades and Businesses and the IRC 199A QBI deduction.
This course will go into specifics of Specified Services Trades and Businesses and the IRC 199A QBI deduction. While the course will not focus on the calculations and the specifics of 199A generally, we will look at provisions that impact the SSTB calculations. We will go in-depth into the different types of SSTBs, along with the grey areas for some of these businesses. We will look at how to disclose grey areas with SSTBs to help avoid penalties. We will also discuss entity structuring in order to properly maximize the QBI calculations.
Field of Study: Taxes
Nick Preusch’s primary focus is performing tax services for high wealth individuals and mid-to-large business entities. Nick’s responsibilities include tax research related to complex business transactions and tax return preparation and review. He also works closely with businesses and individuals to find tax efficiencies through ever-changing tax legislation. He was also an Internal Revenue Service (IRS) attorney at the IRS National Office in Washington, DC, where he was the lead attorney for several significant tax ethics cases. Nick co-authored Tax Preparer Penalties and Circular 230 Enforcement, a textbook published by Thomson Reuters. He has also been published in the AICPA’s Tax Advisor and Journal of Accountancy along with CCH’s Journal of Tax Practice and Procedure. In 2017, he was named one of the VSPCA’s Top 5 Under 35. In 2018, he was named to CPA Practice Advisor’s Top 40 Under 40. In 2018, he was part of the AICPA’s New Face of Tax ad campaign. Nick is a licensed attorney in New York and a Certified Public Accountant in Virginia. He earned an LLM in Taxation from Georgetown University, a JD from Case Western Reserve University, and an MS in Accounting from the University of Connecticut.
