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Agricultural Issues & Rural Investments Webinar

Wednesday, December 11, 2024 / 2-4pm or
Thursday, December 12, 2024 / 10am-12pm

Join us for a webinar designed specifically for tax professionals with farm clients. This 100-minute session will examine critical tax issues facing your clients in the agricultural sector.

Key Topics:

  • Structuring a Farm as an LLC: Structuring a farming operation as an LLC can have a significant impact on a farmer’s self-employment tax. Understand the nuances of this approach, including minimizing the net investment income tax.
  • Informal Partnerships in Farming and Ranching: Explore the considerations and tax implications of informal partnerships on things like cash rent or crop share leases.
  • Options for Retiring Farmers: Take a look at some strategies for retiring farmers, including installment sales, charitable remainder trusts, and cash balance plans. Understand the tax implications and benefits of each option.
  • Repossession of Property Sold Under an Installment Sale: Get acquainted with the rules and tax consequences of repossessing property sold under an installment sale. Learn how to navigate these situations to ensure compliance and optimal tax treatment.
  • Sustainable Aviation Fuel Tax Credit: Stay updated on the latest developments regarding the new sustainable aviation fuel tax credit that was created under the Inflation Reduction Act. Understand how this credit can benefit your clients involved in biofuel production and related activities.
  • Split-Interest Land Acquisitions: Understand the concept of split-interest land acquisitions and how they can be used as a strategic tool for estate planning and investment in agricultural properties.

Fall Tax School attendees will receive FREE access to this webinar. A coupon and registration instructions will be emailed at the end of Fall Tax School.

Agricultural Issues & Rural Investments Webinar
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Webinar Instructor: Bob Rhea

Bob Rhea, EA has been associated with the Tax School since 2005 as an instructor and as a reviewer for the University of Illinois Federal Tax Workbook. Since 1984, he has assisted farmers with accounting, tax, and consulting services in west-central Illinois through the University of Illinois FBFM program, and was named CEO in June 2020. Bob completed 18 years as the national executive director for his professional organization, NAFBAS. He serves as trustee for John Wood Community College, was selected as the inaugural Distinguished Alumnus, and is a board member for United Community Bank. Bob received his bachelor’s degree from Western IL University and Master’s degree from the University of Illinois. Bob resides in Camp Point; family includes his wife, Debbie, 3 children, Tracy, Casey, and Ashley, their spouses, and 7 grandsons.

Technology Preparation for Webinar

Please test your computer system before the online event. Our Help page contains step-by-step instructions for how to test your system in advance and how to enter the online event on the scheduled day. Set yourself up for success.

Visit the Online Event Help Page