Farm Tax: New Tax Law, New Planning Ideas (Webinar)  (FTU-WEB)

8.00 CPE Credit Hours

The Tax Cuts and Jobs Act was supposed to simplify the tax code, but this tax reform legislation is anything but simple for farmers and ranchers -- as well as for you, as their adviser. The legislation provides a mere skeleton of the promised tax cuts for business. Examine the issues affecting year-end and long-term tax planning for your farm and ranch clients. Hear from seasoned CPAs who have years of agricultural tax experience and know the challenges facing the world of agribusiness today.

• Understand key tax planning opportunities embedded in tax reform for the benefit of farm and ranch clients 
• Understand the computational results of Sec. 199A, -- deduction for qualified business income 
• Communicate to clients the tax reform provisions that remain unknown and that will require guidance from the IRS 
• Apply entity structuring planning for clients in evaluating the C Corporation alternative to pass-through taxation
• Identify and avoid some of the complex computations based upon taxable income and gross receipts 
• List tax updates from court cases, revenue rulings and other authorities applicable to agriculture 
• Distinguish between qualifying and non qualifying assets for Sec. 1031 exchanges
  

• In-depth discussion of the deduction for qualified business income under Sec.199A 
• Should farms restructure to take maximum advantage of the Sec. 199A deduction?
• How the new gross receipts limitations exempt farmers from other complex computations 
• S Corporation vs. C corporation entity planning for operating enterprises 
• Bonus depreciation vs. the Sec. 179 alternative 
• How the meals and lodging fringe benefit affects the entity planning analysis