CARES Act, TCJA, and Farm Taxation – NEW! – Webcast

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Jun 22, 2020

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

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

This seminar provides tax professionals with a forum to discuss tax reform and economic recovery issues affecting their farm and ranch clients. This session will focus on the Coronavirus Aid, Relief and Economic Security (CARES) Act, and their effects on taxation for agricultural producers and processors. 

Nationally recognized speakers Chris Hesse and Paul Neiffer will be co-presenting. Both speakers are CPAs and agribusiness professionals active in public accounting. They have many years of experience in farm taxation as well as experience in agricultural processing and distribution; they regularly present at national agribusiness conferences.  

Note: This webcast is airing on Pacific Daylight Time. Thank you.

Designed For

Tax practitioners representing farmers and ranchers, who need to be aware of new federal tax legislation, IRS guidance and recent court decisions.

Objectives

At the end of this session you will be able to:
  • Recognize key tax planning opportunities embedded in tax reform for agricultural producers and processors
  • Describe when an activity rises to the level of a trade or business for the Section 199A Qualified Business Income deduction, Excess Business Loss and business interest expense limitations
  • Demonstrate common ownership for purposes of aggregation and deemed trade or business status for the QBI deduction
  • Identify costs qualifying for debt forgiveness under the Paycheck Protection Program
  • Recognize opportunities for Net Operating Loss and Excess Business Loss changes in the CARES Act
  • Identify other opportunities to enhance taxpayer cash flow due to 2020 COVID-19 developments

Major Subjects

  • An in-depth discussion of the deduction for qualified business income under Section 199A, and how producers might restructure for additional advantages
  • Revisit examples of gross receipts limitations and application to related parties for purposes of determining exemption from complex accounting methods and limitations 
  • Application of bonus depreciation in applying Sec. 754 elections in partnerships 
  • Understand how FSA planning affects the entity selection process
  • Hear about tax reform provisions that remain unknown and that will require guidance from the IRS
  • Review of the Paycheck Protection Program loan origination, spending and forgiveness for the self-employed farmer and farmer with payroll

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