Farm & Ranch Conference
8.00 Credits
Member Price $350.00
Price will increase by $50 after 7/16
Non-Member Price $400.00
Price will increase by $50 after 7/16
Overview
The agriculture industry's unique tax rules are closely linked to specialized income and tax deduction opportunities. Learn more about them at this virtual/live event, where you'll hear from farm tax expert Paul Neiffer, CPA, author of the FarmCPAReport blog. Discover how to apply key tax planning concepts unique to agribusiness and gain guidance on how to maximize tax benefits for your farm clients.
This course is the LIVE option. For the VIRTUAL option, go to the MTCPA Webcasts tab under the main CPE menu.
All materials will be electronic only - available in your portal account - up to 5 days before the event.
HOTEL
If you need lodging for the Conference, please contact the Hilton Garden Inn Great Falls at 406-452-1000 and reference MTCPA Farm & Ranch Conference or use this link: https://group.hiltongardeninn.com/erhdce
Highlights
- Review of major income tax law changes
- Review of the 5th Circuit Appeal on SE tax and how it affects Manager-Managed LLCs
- OBBBA -- impact, planning opportunities, what's still unknown and what requires more IRS guidance
- Other relevant tax developments, court cases and rulings affecting farmers and ranchers
- Examples pertinent to small and mid-sized farm operations
- A refresher on various farm planning topics such as:
- Installment sales of hot assets
- Liquidation of S corporations
- The deferral of income tax under new Section 1062
- Review of Farm Income Averating
Designed For
CPAs and tax professionals with farm or ranch clients
Objectives
After attending this presentation you will be able to . . .
NOTE: These learning objectives are subject to change if major income tax laws are passed before the session. If so, the majority of the session will deal with how these new laws will affect farmers.*Apply key tax planning concepts to farm and ranch taxation
*Recall tax updates from court cases, revenue rulings and other authorities applicable to agriculture
*Review the tax guidance on utilizing Research and Development Tax Credits for farmers
*Excess fertility deduction – Update on trends developing regarding this deduction
*Why Rural Opportunity Zones might make sense for your farm clients
*A review of what CPAs need to know about Farm Service Agency rules and how to help their farm clients optimize their payment options since OBBBA has substantially increased the payments
*When is an accounting method change required and how to report it
*A potpourri of various farm tax refreshers on income deferral, farm deductions, and other related topics
Exhibitor
Leader(s):
Leader Bios
Paul Neiffer, CliftonLarsonAllen LLP
Paul Neiffer is an agribusiness CPA and business advisor specializing in income taxation, accounting services, and FSA planning for farmers and processors. He works with clients on tax advice, compliance services, and succession planning. Paul helps farmers maximize profitability through proper accounting systems and FSA opportunities.
Paul obtained his CPA certificate in 1984 and graduated from the University of Washington with a Business Administration degree in 1983. He is president of the Farm Financial Standards Council, promoting accrual basis financial statements for agricultural producers. Paul writes a monthly column for Top Producer magazine and authors the FarmCPAToday.com blog. He is a nationally recognized speaker on tax planning, estate tax, succession planning, farm management accounting, and farm bill topics. Paul grew up on a farm in Walla Walla County, Washington, and still enjoys operating the combine each summer.
Non-Member Price $400.00
Member Price $350.00