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Guide to Revisiting the Section 199 Manufacturer's Deduction (R199)

  • Customer Rating
    Not Yet Rated
  • Field of Study
    Taxes
  • Level
    Basic
  • Credits
    2
  • Qualifies for

    IRS CPE

Overview

One of the measures that Congress adopted to stimulate and preserve manufacturing jobs in the United States is the Section 199 Manufacturer's Deduction. Over time the deduction percentage has increased from 3% starting in 2005 to 9% in 2010 and after. The calculation of the deduction is somewhat complex but the deduction can only be ignored or miscalculated to the client’s detriment. For many taxpayers this deduction is a sizable financial benefit; and accordingly tax practitioners must understand the calculation of this deduction. This program will highlight both the calculation of the deduction and the kinds of taxpayers who may take advantage of it.

Major Topics:

  • Calculation of the Section 199 manufacturer's deduction
  • Taxpayers who may use the Section 199 deduction
  • Limitations on the ability of a taxpayer to take this deduction
  • Recent IRS rules regarding “benefits and burdens”

Learning Objectives

  • Understand how to calculate the Section 199 deduction
  • Know which taxpayers may take the deduction and which are ineligible

Who should take this course:

Designed for:

Prerequisite:

None

Advanced Preparation:

None

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