Instructor
Nick Preusch
Instructor
Nick joined YHB in 2020 with over 15 years of experience in the industry. Nick is a graduate of Carthage College with a BS in Accounting and Business, the University of Connecticut with an MA in Accounting, Case Western Reserve University with a JD, and Georgetown University with an LLM in taxation. Nick has also worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility.
EXPERTISE
Nick’s expertise includes 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. He has used his tax expertise not only to serve his clients, but also his peers. He has 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 and co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomas Reuters. He has also lectured nationally on topics such as ethics, complex tax transactions, and IRS practice and procedure.
The Section 199A Qualified Business Income (QBI) deduction remains one of the most complex and frequently misunderstood provisions affecting pass-through entities and their owners. This advanced-level course provides a deep dive into the mechanics, limitations, and planning opportunities associated with the §199A deduction.
Participants will walk through the detailed calculation of the QBI deduction, including income thresholds, W-2 wage and qualified property limitations, and coordination with taxable income caps. The program explores the treatment of Specified Service Trades or Businesses (SSTBs), including nuanced regulatory definitions, de minimis rules, and anti-abuse provisions. Special attention is given to rental real estate, self-rentals, aggregation rules, and the determination of whether activities rise to the level of a §162 trade or business.
Through real-world examples, IRS guidance, and regulatory analysis, attendees will gain the practical knowledge needed to properly compute the deduction, identify common errors, and apply compliant planning strategies for clients subject to §199A.
A strong working knowledge of individual and pass-through entity taxation. Prior experience preparing or reviewing complex individual or business returns is recommended.
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This course is designed for CPAs, enrolled agents, and tax professionals who advise owners of pass-through entities, including partnerships, S corporations, and rental real estate enterprises, and who are responsible for calculating or reviewing §199A deductions.
