Do you have agriculture industry clients? Gain a better understanding of the unique tax issues associated with agriculture.
Agricultural producers and landowners have unique tax issues and rules that apply to them. This topic focuses on numerous key aspects of agricultural taxation and provides you with tools designed to better represent your agricultural clients. Unique depreciation techniques, deferred sales of ag products and self-employment tax issues abound in agriculture and are just some of the issues addressed. Insight into current IRS audit issues and compliance target areas of importance to farm and ranch returns is also provided. Learn the detailed rules and how to take advantage of them for your ag clients.
Learning Objectives
- You will be able to differentiate between the changes in the tax rates and tax brackets due to the Tax Cuts and Jobs Act (TCJA) of 2017.
- You will be able to identify the changes in deductions in the Tax Cuts and Jobs Act impacting the Agricultural industry.
- You will be able to identify accounting methods beneficial to the farming industry.
- You will be able to identify the impact the Tax Cuts and Jobs Act has on Agricultural taxation of grain gifting.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Significant New Cases and Rulings
Domestic Production Deduction and Ag
Pre-Paying Expenses and Cash Accounting
Corporate-Provided Meals and Lodging
Gifting of Grain and Paying Ag Wages In-Kind
CRP Self-Employment Tax Update
Deferred Livestock and Grain Sales
Final Repair Regulations - Update
Taxation of Crop Insurance Benefits
Tax Issues Associated With Financial Distress
Passive Activity Rules
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 13, 2019.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Roger A. McEowen
Washburn University School of Law
- Kansas Farm Bureau professor of agricultural law and taxation, Washburn University School of Law
- Wrote Principles of Agricultural Law, a law school/undergraduate textbook on agricultural law that is updated twice annually
- Wrote or co-wrote two BNA Tax Management Portfolios involving various aspects of agricultural taxation
- Conducts on average of 80-100 seminars annually
- The website for the Washburn Agricultural Law and Tax Report is the most widely accessed website involving agricultural tax and legal issues - http://washburnlaw.edu/waltr
- Featured weekly on RFD-TV and Rural Satellite Radio
- Can be contacted at [email protected] or on Twitter® @Washburn.Waltr
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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