Michigan’s Agribusiness Economic Update
Change is sweeping today’s agribusiness industry. We summarize and look ahead to the 2023 Farm Bill, challenges and opportunities presented by the high input and output price environment, as well as climate and pest issues for Michigan’s specialty crops and the U.S. Department of Agriculture’s changing attitude toward environmental goals. Find out what it all means for you and your farming clients.
Matthew Gammans, PhD - Assistant Professor, Department of Agricultural, Food, and Resource Economics, Michigan State University, East Lansing

Everything Agri-Tax (CNTW1-T-00406-22-O)
Agribusiness is growing, which means the tax code is evolving around it. Explore everything you need to know about tax situations specific to the industry including the following updates on Section 1031 exchanges, self-employment tax considerations utilizing manager-managed LLCs, using a Spousal Lifetime Access Trust (SLAT) to save on estate taxes, and the IRS’ recently updated crop insurance deferral rules.
Paul G. Neiffer - Principal, CliftonLarsenAllen LLP, Yakima, WA

All Things in Succession  
Family Farm and Business Succession Planning is for CPAs who advise farm and business owners that are ready to begin succession planning, as well as other retirement and estate planning decisions. This presentation leads you through creating a "transition plan to help your clients successfully transition a farming business to the next owner or owners, thereby helping your clients avoid the costly and unnecessary taxes, disputes, and legal battles that can arise from simply willing a business upon death.

Learn how to implement a plan that meets your clients’ goals, considering the federal gift and estate tax, and income tax implications of the business transition, keeping in mind that sometimes the tax ramifications are not the most important priority in the succession plan. A variety of planning techniques will be discussed to facilitate a successful business succession plan including, but not limited to, trusts, patterned gifting, outright transfers, sales, and buy-sell agreements.
Julius H. Giarmarco, J.D., LL.M.- Chair of Trusts and Estates Practice Group, Giarmarco, Mullins & Horton, P.C.

Valuation: An Apple in Hand Worth Two on the Tree? (Accounting & Auditing credit) 
If only it were so simple to determine the value of an orchard, or any agribusiness. Instead, there are three ways in which these types of business can be valued, the asset approach, the income approach, and the market value approach. Determine which practice makes the most sense for a given client, based on the metrics specific to their business. 
Christopher Sheridan, CPA, CVA - Senior Manager, Yeo & Yeo, Saginaw
Mike Oliphant, CPA, CVA - Principal, Yeo & Yeo, Kalamazoo 

New Standards for Farm Financials (Accounting & Auditing credit)
Recent changes issued by the Farm Financial Standards Council (FFSC) have implications for deferred taxes and financial measures. Find out why the FFSC reduced financial measures from 21 to 13, how to calculate deferred taxes and depreciation under the new guidance and check out the latest agriculture financial guidelines for non-accountants. 
Jonathan Shepherd - Farm Management Specialist. Lexington, University of Kentucky