The Tax Code contains unique rules that impact farm taxation. This session includes information about some of the latest issues affecting farm clients. For example, one of the newest construction trends in production agriculture requires tax preparers to choose wisely when selecting among depreciation methods... what the HOOP is up with farm building depreciation? For farm clients who experienced a poor financial year, use of a net operating loss can provide a significant benefit. For these clients, the IRS may be their best friend this year! Is it possible for farmers to obtain double deductions? The Backemeyer court case provides an interesting set of facts and outcomes.
If you serve farm clients, this webinar will help you stay current on important issues within this specialized area of tax practice.
Fall Tax School webinars feature audio instruction, plus a powerpoint presentation. Each course includes a set of materials that accompany the course presentation.
Registration Fee: $25.00
CPE Credits: Up to 1.0 (0.75 for IL MCLE) based on attendance and completion of engagement activities.
CPE Filings Available: Illinois MCLE, CFP, IRS
Bob Rhea 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. Bob is an enrolled agent (EA) and he lives in Camp Point with his wife, Debbie, sons Tracy and Casey, and daughter Ashley.
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Learning Objectives: By attending this webinar, you will be able to:
|CPE credits||Up to 1.0 based on attendance and completion of engagement activities|
|Field of Study (NASBA)||Taxes (1)|
|IRS Categories||Federal Tax (1)|
|IL MCLE||Taxation (0.75)|
Please see our CPE FAQ for more information.
Delivery Method: Internet-Based Group
Program Level: Overview
Prerequisite(s): Professional experience in preparing farm tax returns and an understanding of basic tax rules and regulations.
Materials: Will be available in your Tax School account one week prior to the webinar.
Last updated 10/18/2017 11:30:05 AM