Farm Tax: New Tax Law, New Planning Ideas – NEW! – Webcast

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Dec 12, 2018

Registration: 7:30 AM / Program: 8:00 AM - 4:00 PM

Fees

Member Fee: $320.00
Nonmember Fee: $420.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: -160.00

Description

The CliftonLarsonAllen (CLA) author team have designed educational materials to help practitioners understand the Tax Cuts and Jobs Act. Reform was supposed to simplify the tax code, but this legislation is anything but simple for the farmer, rancher, and their advisors. The legislation provides a mere skeleton of the promised tax cuts for business.

This educational session will give tax professionals a forum to discuss issues affecting year-end and long-term tax planning for their farm and ranch clients. This seminar is presented by Paul Neiffer, a CPA and agribusiness professional. CLA instructors have many years of experience in farm taxation and regularly present at national agribusiness conferences.

This is an OSCPA produced live-stream webcast using the Adobe Connect platform. You will receive login instructions 2 business days prior to the webcast.

Designed For

Tax practitioners advising farmers and ranchers on current and long-term tax planning, tax reform, and the effects of recent court cases, rulings, and other guidance.

Objectives

At the end of this sessions you will be able to:
  • Understand key tax planning opportunities embedded in tax reform for the benefit of farm and ranch clients
  • Understand the computational results of Section 199A, the Deduction for Qualified Business Income
  • Communicate to clients the tax reform provisions that remain unknown and that will require guidance from the IRS
  • Apply entity structuring planning for clients in evaluating the C corporation alternative to pass-through taxation
  • Identify and avoid some of the complex computations based upon taxable income and gross receipts
  • List tax updates from court cases, revenue rulings, and other authorities applicable to agriculture
  • Distinguish between qualifying and non-qualifying assets for Section 1031 exchanges

Major Subjects

  • An in-depth discussion of the deduction for qualified business income under Section 199A and whether farms need to restructure for the maximum advantage
  • How the new gross receipts limitations exempt the farmer from other complex computations
  • Analysis of S versus C corporation entity planning for operating enterprises
  • Evaluation of bonus depreciation versus the Section 179 alternative
  • How the meals and lodging fringe benefit affects the entity planning analysis

If you would like to register for this event, please contact OSCPA at 800-255-1470, 503-641-7200, or email profdev@orcpa.org.


Leaders

Christopher Hesse

Chris Hesse, CPA, is a tax principal with over 35 years of tax experience in public accounting with regional and national CPA firms, and over 30 years of speaking and training experience before tax professionals on a variety of update topics. His career has included tax leadership of a 200-person practice, and extensive tax writing and analysis services. He is an author and instructor of Tax Advisors Update and Farm Taxation Update. Chris has spoken at numerous seminars and conferences throughout the country on taxation, agricultural and estate tax topics and is a past chair of the AICPA Ag Conference committee. He has testified before Congressional and legislative committees as well as presenting at IRS and Treasury Department regulation hearings. Chris has been instrumental in federal and state tax law changes, including an Alternative Minimum Tax provision affecting agricultural producers, farm income averaging, and Washington state excise and estate tax issues. Chris is currently serving as the vice-chair of the AICPA Tax Executive Committee and is a former chair of the AICPA S Corporation Technical Resource Panel.

Rev. 12/18

Paul Neiffer

Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a partner with CliftonLarsonAllen (CLA) in Yakima, Washington, as well as a regular speaker at national conferences and contributor at agweb.com.

Paul regularly publishes timely content on CLA’s agribusiness blog, Farm CPA Today. He covers topics, including taxation, accounting, succession planning, new laws, major agribusiness events, and other issues that are unique to farmers and agribusiness processors.

Raised on a farm in central Washington, Paul has been immersed in the ag industry his entire life, including the last 30 years professionally. In fact, Paul drives combine each summer for his cousins and that is what he considers a vacation. In addition, he is the previous owner of a 1031 exchange company.