Course Detail

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Speakers: Paul G. Neiffer

Time: 8:30 am - 5:30 pm

Total Credits: 9.0

Earn Up To: 9.0 OT credits

Level: Update

Vendor: Iowa Society of CPAs

MICPA delivers the highest quality education experience. If you are not satisfied with your course, call us at 1.855.594.4273. We will make it right.

What you will learn

The topics listed below are subject to change if significant income tax laws are passed before the seminar. Should that occur, the seminar will primarily focus on how these new laws impact farmers.

Apply key tax planning concepts to farm and ranch taxation
Recall tax updates from court cases, revenue rulings and other authorities applicable to agriculture
Review the tax guidance on rearranging land holders by related parties
Review trends and development for excess the fertility deduction
Review of SECURE final guidance and SECURE 2.0 new guidance
Review the Farm Service Agency rules and how to help farm clients optimize payment options
Section 45Z benefits
A potpourri of various farm tax refreshers on income deferral, farm deductions and other related topics
Why to watch out for a “mixing bowl.”

Description

Presented in partnership with the Iowa and Minnesota Society of CPAs.

The agriculture industry's unique tax rules are closely linked to specialized income and tax deduction opportunities. In this virtual seminar, learn more on these key areas from farm tax expert Paul Neiffer, CPA, author of the FarmCPAReport blog. Discover how to apply tax planning concepts unique to agribusiness and gain guidance on how to maximize tax benefits for your farm clients.

Featuring a complimentary bonus session, sponsored by IPE 1031, to start the day from 8:30 AM - 9:20 AM which will cover the current landscape for Section 1031 exchanges focusing on agriculture-related issues.

Prerequisites:
None

Advanced preparation:
None

Bonus Session Sponsor:

Major Subjects

Review of major income tax law changes
How to help farm families deal with land in multiple entities and ownership
Inflation Reduction Act, SECURE 2.0, CTA and other Acts -- impacts, planning opportunities, what's still unknown and what requires more IRS guidance
Other relevant tax developments, court cases and rulings affecting farmers and ranchers
Examples pertinent to small and mid-sized farm operations
A refresher on various farm tax planning topic such as:
Interplay of Section 199A, SE and Net Investment Income taxes
Section 1245 Real Property Tax-Deferred Exchanges
Installment sales, easement proceeds and other gain recognition issues
Interplay of NIIT, SE and Passive Income and Losses
Will farmers be switching to a C corporation soon

This Course is Recommended for

CPAs and tax professionals with farm or ranch clients.

Fields of Study

Taxes

Speaker

Paul G. Neiffer