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Forward-Thinking Tax Solutions for Farm Clients

Thursday, September 26

Planning for the future is critical for tax professionals, particularly when working with farm clients. This online seminar is designed to assist you in thinking through important and timely considerations so you can provide the best forward-thinking tax solutions. Topics covered include:

  • The ins and outs of deducting residual soil fertility
  • How clients should be dealing with sales pitches they’re receiving for research and development deductions. Understand what the qualification rules are and the change in deducting expenses.
  • Relevant updates and potential reduced deductions from §179 and bonus depreciation rules
  • How the sunset of the Tax Cuts and Jobs Act (TCJA) could impact tax solutions for farm clients
  • How the net investment income tax (NIIT) impacts asset sales, especially land sales, and applying it to different business types
  • Important considerations for those receiving payments in climate-smart agriculture
  • Understanding special rules for property damaged by a federally declared disaster, as well as weather-related casualty losses
  • New developments and relevant cases that have ramifications for farm taxpayers

Don’t miss out on this opportunity to gain actionable insights to help you continue to think ahead for your farm tax clients. This event will set you up to stay ahead in the ever-evolving farm tax landscape.

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Forward-Thinking Tax Solutions for Farm Clients

Seminar Instructors

What sets us apart from the competition is the breadth and depth of our instructors’ knowledge. Click on any photo below for a brief bio.

Learning Objectives & Materials

Learning Objectives: By attending this online seminar, you will be able to:

  • Discuss how to claim excess fertility deductions on farmland.
  • Explain how farm tax clients should treat research and development expenses and credits.
  • Apply §179 and bonus depreciation rules to client situations.
  • Identify TCJA provisions that are expiring soon.
  • Summarize how land sales could be impacted by net investment income tax and those that are excluded
  • Explain how Climate-Smart payments should be treated.
  • Discuss disaster relief rules and how they apply to farm tax clients.
  • Compute estimated tax payment options for farmers.
  • Recognize the importance and application of significant case law and rulings related to agricultural taxation.

Materials: All attendees of this online seminar will receive accompanying written materials, including presentation slides, digitally in their Tax School account. The seminar will be recorded and will be available in your online Tax School account for playback within two weeks of the seminar.

Delivery Method: Group Internet-Based

Field of Study: Taxes (NASBA), Federal Tax (IRS)

Prerequisite(s): Experience as a tax professional preparing farm tax returns and an understanding of tax rules and regulations associated with preparing farm tax returns.

Online Seminar Testing & Help

Please test your computer system before the online seminar. Our Help page contains step-by-step instructions for how to test your system in advance, how to enter the online seminar on the scheduled day, and even a video tour of the platform. Set yourself up for online seminar success.