Unrelated Business Income Tax – Updates Under TCJA

Live Webinar

  • 60 minutes

The tax cuts and Jobs Act changed many of the laws people understood. One of the major changes came from Unrelated Business Income Taxes. Not only did Congress change the ability to aggregate unrelated trades or businesses, but they also created what is known as “fake” unrelated business income. This is when you have an expense that could be treated as income for unrelated business income tax purposes. Failure to comply with these rules or properly plan for the changes can see exempt organizations encounter large tax bills. The webinar will help to plan out ways to avoid any negative impacts due to these changes as well as an in-depth look at unrelated business income tax.

Join this session by expert speaker Nicholas Preusch, where he will go through the changes to unrelated business income tax and the help the attendee determines how these changes could negatively impact an exempt organization.

Session Highlights:

  • Help determine what is unrelated business income;

  • Understand the changes to an aggregation of unrelated business income;

  • Determine if fake unrelated business income is present.

  • Calculate unrelated business income tax

  • Understand all the changes to unrelated business income tax under the Tax Cuts and Jobs Act, along with what changes are to come

Why You Should Attend:

Exempt organizations have seen drastic changes to unrelated business income tax. To avoid a large tax bill at the end of the year, exempt organizations need to be aware of these changes and start planning to help reduce possible taxes due. This webinar will help with planning along with helping the attendee gets a much better grasp on unrelated business income tax.

Who Should Attend:

  • Lawyer

  • CPAs

  • EAs

  • Accountants

  • Non-for-profits

  • Bookkeepers

Advanced Preparation: None

Program Level: Intermediate

Prerequisites: Basic Knowledge of Tax Cuts Jobs Act

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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