2.0 CPE CREDITS
Farming is a complicated business. To remain profitable and avoid penalties, farmers must stay on top of tax laws. Most farmers find it beneficial to employ experts to prepare and file their tax returns and assist them with tax planning. Whether your client is a hands-on farmer, crop share landlord, or simply rents farmland, it’s vitally important for you, the tax preparer, to understand what tax provisions affect these clients.
This self-study course walks you through complex topics, including asset dispositions, installment sales, self-employment tax, estimated tax, farm income averaging, health insurance deductions, and net operating losses (NOLs).
This course is the third in a 3-part series on Deciphering IRS Pub. 225. Each course discusses a different aspect of taxation for farmers. There is no prerequisite or requirement for you complete part 1 and 2 before taking part 3. Learn more about Part 1 and Part 2.
Published: April 2024
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This course involves completing a pretest, watching a video, answering quiz questions throughout, and successfully passing an exam with a score of 70% or better. The course includes a set of PDF materials that accompany the presentation.
CPE: This course offers 2.0 CPE credit and is approved by the IRS and NASBA for CPA credit in all states.
Cost: $50
Expiration: Per IRS guidelines, this course expires on 12/31/2027. Students must complete the course and pass the final exam by the expiration date or 1 year from the time of purchase, whichever comes first.
Access Instructions: Upon purchase, students receive a transaction receipt via email that contains instructions to complete the course, as well as a code that is required to earn credit for the course. Important note: the person purchasing this self-study course must be the same person taking the course and completing the exam. This course performs best utilizing a desktop or laptop computer, not a mobile device.
For questions regarding refunds, registration policies, and resolving concerns, please see our Policies and FAQ.
Debbie Held has been an instructor with the Tax School since 2000. She has also served as a chapter author and reviewer for the University of Illinois Federal Tax Workbook. She is a graduate of Sangamon State University (University of Illinois at Springfield). She has been employed by the IRS since 1979, spending time as a revenue agent, appeals officer, and most recently as a management analyst for the Communications & Liaison Division. She previously taught various accounting courses at Lincoln Land Community College for 18 years. She is a certified public accountant (CPA) and resides in Raymond, Illinois, where her family farms.
Learning Objectives: By taking this self-study course, participants will be able to:
CPE Credits (qualifies for IRS): 2.0. Final exam must be passed with a score of 70% or better.
Expiration: Per IRS guidelines, this course expires on 12/31/2027. Students must complete the course and pass the final exam by the expiration date or 1 year from the time of purchase, whichever comes first.
Delivery Method: QAS self-study (online self-study)
Program Level: Overview
Field of Study: Taxes
Prerequisite(s): Professional experience preparing federal tax returns.
Materials: Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course materials.
Advance Preparation: None
Please see the CPE FAQ for more information.
With our self-study courses, you can earn CPE anytime, from any computer or internet-connected device.