new-business-interest-limitations-under-irc-163j

New Business Interest Limitations under IRC 163(j)

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CEU Approved | Pre Recorded

  • 90 minutes

The new Section 163(j) limitations on business interest deductibility likely will create serious tax consequences for many U.S. businesses. Unlike the prior version of Section 163(j), which generally applied only to corporations that owed money to foreign related parties, the new Section 163(j) can apply to all taxpayers, such as individuals and partnerships, and to all interest expense paid to both related and unrelated parties. Interest is defined very broadly for this purpose and includes guaranteed payments for the use of capital. 

Join this session by expert speaker Nicholas Preusch, where he will discuss the interest expenses subject to limitation and its various exceptions, such as for investment interest, a small business (loosely defined), and a real property trade or business. 

Session Highlights: 

This presentation will look at the new IRC 163(j) business income deductions. It will cover: 

Figure out what the new business interest limitation is and who it applies to. 

How to calculate the deduction 

How entities that have less than $25,000,000 in average annual gross receipts could still get caught up in this reduction of interest expenses 

Planning opportunities when interest expenses are limited 

Navigate the new IRS forms for the business interest limitation

Why You Should Attend: 

It’s important to figure out if a business will be limited in their interest expense deductions on their taxes. If they are, it could change their debt or equity discussions in financing a company. In addition, figuring out the limitation correctly will limit IRS exposure at audit.

Who Should Attend:

CPAs

Accountants

EAs

Lawyers

Businesses


Advanced Preparation: None 

Program Level: Intermediate 

Prerequisites: Basic knowledge of Tax cuts and Jobs Act (TCJA) 

Field of Study: Tax


*You may ask your Question directly to our expert during the Q&A session. 

** You can buy On-Demand and view it as per your convenience.

Nicholas Preusch

Nicholas Preusch

Nick Preusch CPA, JD, LLM, is a tax manager with PBMares, LLP. Nick has participated in helping high wealth individual and large business entities with complex tax compliance, along with specializing in international, non-for-profit tax issues, and tax ethics issues. 

Nick has also worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nick is a graduate of Carthage College with a BS in Accounting and Business, University of Connecticut with a MA in Accounting, Case Western Reserve University with a JD, and Georgetown University with an LLM in taxation. Nick has also authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. He has lectured nationally on topics such as ethics, complex tax transactions and IRS practice and procedure. 

Currently Nick is an adjunct professor at the University of Mary Washington. Nick has been recognized as the Top 5 Under 35 CPAs in Virginia by the VSCPA in 2017 and CPA Practice Advisor’s Top 40 Under 40. He is a member of the VSCPA’s Tax Advisory Committee and Ethics Committee, and the AICPA’s Tax Practice and Responsibilities Committee.

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Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

For more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151.

PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks.

Number of CPE Credits Awarded for This Course: 1.5 (Taxes - 1.5)

Delivery Method: Group Internet Based 

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