Presented in partnership with the Iowa Society of CPAs. 

Discover the agricultural industry's future prospects, its distinct tax and accounting challenges, and the opportunities these present for you and your clients.

Program Agenda

9:30 AM - 9:35 AM
Welcome and Opening Remarks

9:35 AM - 10:25 AM
Inflation, Interest Rate, and the Impact on Agriculture (1.0 Other)
After surging in 2022, inflation has slowed with rising interest rates. Many are wondering if the rollercoaster rise of inflation is over or is this another 1970s/1980s cycle. This session will discuss the drivers of inflation and the prospects for inflation and interest rates heading forward. Then, the session will explore the impacts on farm incomes and balance sheets and how farmers are responding to both.
Jason Henderson, Ph.D. - Department of Economics, Iowa State University

10:35 AM - 12:15 PM
Farm Tax Update (2.0 Other) (also counts for EA credit)
The agriculture industry's unique tax rules are closely linked to specialized income and tax deduction opportunities. This session explores the key areas on how to apply tax planning concepts unique to agribusiness and gain guidance on how to maximize tax benefits for your farm clients.
Paul Neiffer, CPA - Past President, Farm Financial Standards Council and Current Chair, AICPA Ag Conference

12:30 PM - 1:45 PM
Maximizing FSA Program Payments and the Latest on the Farm Bill (1.5 Other) (also counts for EA credit)
Review and discuss the new Farm Bill and items CPAs need to know to help their clients maximize FSA program payments.
Paul Neiffer, CPA - Past President, Farm Financial Standards Council and Current Chair, AICPA Ag Conference

1:45 PM - 2:35 PM
Break for Lunch

2:35 PM - 3:25 PM
Accounting Update: Digesting Recent Changes in Accounting (1.0 Accounting & Auditing)
Explore the impact of recent accounting standards effecting agricultural clients. Stay ahead of the curve by keeping pace with the latest industry updates, ensuring you're equipped to spotlight current issues to your clients.
John Rassi, CPA - Principal, CLA, Bloomington, IL

3:40 PM - 4:55 PM
Long-Term Care Issues for Farmers and Strategies to Protect Assets (1.5 Other)
Long-term care costs can exceed $100,000/year. Many farm operations do not have adequate income to absorb these substantial long-term care costs. When savings run out, farm assets may need to be sold which jeopardizes the farming operation for the current owners and future generations. This session will discuss long-term care issues for farm operations and address strategies that can be used to help mitigate the risk of long-term care costs.
Robert Moore, J.D. - Attorney & Research Specialist, Agriculture and Resource Law Program, Ohio State University

5:10 PM - 6:00 PM
Tax Considerations for Farm Succession Planning in 2024 (1.0 Other) (also counts for EA credit)
Review key farm succession tax considerations for 2024 including the impact of current gift, estate, and income tax rules and analyze common tools to address them.
Kristine Tidgren, J.D. - Leonard Dolezal Adjunct Associate Professor, Center for Agricultural Law & Taxation, Iowa State University

6:00 PM
Program Adjourns