Tax Cuts & Jobs Act: A New Landscape for Farm Clients - In-Depth Seminar - University of Illinois Tax School
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Scroll down for seminar details! Tax Cuts & Jobs Act: A New Landscape for Farm Clients

Prefer to fax or mail your registration? Use our printable registration form.

$270 for up to 8 hours CPE

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (TCJA). This expansive piece of tax legislation impacts many segments of the business and individual taxpayer population, including your farm clients.

The new law contains complex provisions affecting farmers. The following areas are addressed in this seminar:

  • Individual provisions and the new tax brackets
  • The new qualified business income deduction (QBID) and how it applies to your farm client
  • Various farm business issues such as depreciation, like-kind exchange, and self-employment (SE) tax liability
  • Proper farm entity structure post-TCJA

There are significant planning opportunities for farming clients under the TCJA. In addition to coverage of the new law, agricultural-related case law and rulings updates are reviewed.

Provides up to 8 CPE credits.

Registration Fee: $270

The fee for this seminar includes a buffet lunch, morning and afternoon snacks, beverages, and materials.

Dates and Locations:

  • Friday, September 21, 2018 — Rock Island
  • Monday, September 24, 2018 — Champaign LOCATION FULL!

Check-In: Begins at 7:30 a.m.

Instruction: Begins at 8:30 a.m. and concludes at 4:30 p.m. We will take a 45 minute lunch break (buffet lunch provided)

NASBA Program Level: Overview

CPE Filings Available: Illinois MCLE, CFP, IRS

Roger McEowen Roger McEowen, JD, is the Kansas Farm Bureau Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. He is a published author and prominent speaker, conducting more than 80 seminars annually across the United States for farmers, agricultural business professionals, lawyers, and tax professionals. His writing can be found in national agriculture publications, books, and a monthly publication, Kansas Farm and Estate Law. He received a B.S. with distinction from Purdue University in Management in 1986, an M.S. in Agricultural Economics from Iowa State University in 1990, and a J.D. from the Drake University School of Law in 1991. He is a member of the Iowa and Kansas Bar Associations and is admitted to practice in Nebraska. He is also a past member of the American Agricultural Law Association Board of Directors.

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. Bob is the national executive director for his professional organization, NAFBAS, and previously was that group's national president. Bob received his bachelor's degree from Western IL University and Master's degree from the University of Illinois. He serves as trustee for John Wood Community College and was recently named JWCC's first Distinguished Alumnus Award recipient. Bob is an enrolled agent (EA) and he lives in Camp Point. Family includes his wife, Debbie, 3 children Tracy, Casey, Ashley, their spouses and 7 grandsons.

 

  • NOTE: We have a small guest room block at Jumer's Hotel & Casino in Rock Island for the night of Thursday, 9/20. Rooms are $89.99/night plus tax. Call 1-800-477-7747 and select option 2 to make your reservation. Use group code CUOILOO. Please note: there are a limited number of rooms available at this rate, and all reservations in this block must be made by September 7.

    Friday, September 21 | Rock Island
    Jumer's Casino & Hotel
    777 Jumer Drive
    Rock Island, IL 61201
    (309) 756-4600
    Jumer's Casino & Hotel Website Link opens in new window
    Google Maps Link opens in new window
  • NOTE: We have a small guest room block at the I Hotel in Champaign for the night of Sunday, 9/23. Rooms are $122/night plus tax. To make a reservation, go to www.stayatthei.com. Click on the orange "Attendee Code" button and enter the code FARM2018. Please note: there are a limited number of rooms available at this rate, and all reservations in this block must be made by September 7.

    Monday, September 24 | Champaign LOCATION FULL!
    I-Hotel and Conference Center
    1900 S. First St.
    Champaign, IL 61820
    217-819-5000
    I-Hotel and Conference Center Website Link opens in new window
    Google Maps Link opens in new window

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

  1. Identify individual tax provisions contained in the TCJA affecting farm clients in 2018 and beyond.
  2. Calculate the tax liability when commodity gifting is used.
  3. Explain and calculate the new QBID for farm businesses.
  4. Review how wages paid, capital and §1231 gain, and qualified property values affect the QBID.
  5. Describe the impact of various post-TCJA planning strategies on SE tax liability.
  6. Identify additional agricultural-related tax provisions contained in the TCJA.
  7. Advise farm clients on the proper entity structure under the TCJA.
  8. Recognize the importance and application of significant case law and rulings related to agricultural taxation.

Audience: Tax practitioners.

Materials: All attendees will receive a Tax Cuts & Jobs Act: A New Landscape for Farm Clients workbook.

Delivery Method: Group-Live

NASBA Program Level: Overview

Field of Study: Taxes (NASBA), Federal Tax Update (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.

Advanced Preparation: None

CPE Credit

Tax Cuts & Jobs Act: A New Landscape for Farm Clients
CPE credits Up to 8 based on attendance
Field of Study (NASBA) Taxes (8)
IRS Category Federal Tax Update (8)
CFP Taxation (8)
IL MCLE Taxation (6.5)
IL Insurance None

Please see the CPE FAQ for more information.

The University of Illinois Tax School is a sponsor of CPE for a variety of professional designations such as CPAs, EAs, CFPs®, attorneys, and insurance, etc. Agencies that typically recognize the University of Illinois Tax School as a sponsor of continuing education are:

  • Certified Financial Planner Board of Standards
  • Illinois Department of Insurance
  • Illinois Department of Professional Regulation
  • Internal Revenue Service
  • Iowa Supreme Court Commission on Continuing Legal Education
  • Missouri Bar Association
  • MCLE Board of the Supreme Court of Illinois

NASBA Accredited Continuing Education Provider LogoUniversity of Illinois Tax School is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.


IRS-Approved Continuing Education Provider LogoThe Tax School has been approved as an IRS Continuing Education Provider. Tax preparers should always look for IRS approved providers when fulfilling their continuing education requirements.

Visit www.irs.gov/taxpros/ce for more information.


Participants are awarded credit based upon actual hours in attendance. Most accrediting groups recognize 1 hour of credit per 50 minutes of instruction. Some CLE groups recognize 1 hour of credit per 60 minutes of instruction.

Certificates of attendance are issued to participants after seminars conclude. In most cases, certificates are emailed after the conclusion of all seminars.

For EAs, Illinois Insurance professionals and CFPs®, the Tax School Office submits participant credit hours directly to the accrediting agencies.

An additional fee is required for processing CPE credits for IL insurance, CFP®, and IL MCLE.

See Frequently Asked Questions about CPE.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Last updated 9/14/2018 9:04:35 AM

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