8.00 CPE Credit Hours
Old MacDonald had a farm, e-i-e-i....Oh, what are those farm tax deductions? And what's new for 2017? Explore the latest tax updates, IRS guidance and court decisions affecting taxpayers in the agriculture industry. Discuss the issues you encounter every day and come away with insights to take advantage of opportunities and avoid pitfalls within this unique industry.
Plant the seeds for smart tax strategies with this in-depth course. Learn how to handle the latest tax legislation, technical changes, IRS guidance and court decisions affecting your agriculture clients. Explore sensible strategies to reduce client taxes, assist with farm ownership transitions, create proactive tax plans and sidestep mistakes as you learn from practitioners who work within the nuances of this specialized industry each day.
CPAs and tax practitioners representing farmers and ranchers
*Understand key federal tax developments, opportunities and planning ideas for farmers and ranchers
HighlightsThe latest farm and ranch tax developments and planning guidance
Tax methods of accounting for farmers
Unique provisions to defer income and accelerate expenses
PATH Act opportunities for farmers -- charitable contributions, expanded Work Opportunity Tax Credit and bonus depreciation
Permanent S Corporation five-year built-in period opportunities
Strategies for self-employment tax savings and net investment income tax savings
Defensive strategies against IRS attacks on employment arrangements, commodity gifts, hobby losses and other deductions
Two years of experience with farm tax return preparation recommended.
Level of Knowledge