Farm Tax Update Part 2: Income, Deductions and Credits (Webinar)  (FTU2-WEB)

4.00 CPE Credit Hours

The agriculture industry's unique tax rules are closely linked to specialized income and tax deduction opportunities. Learn more about them at this virtual event, where you'll hear from farm tax expert Paul Neiffer, CPA, a principal at CliftonLarsonAllen and author of the Farm CPA Today blog. Discover how to apply key tax planning concepts unique to agribusiness and gain guidance on how to maximize tax benefits for your farm clients.

CPAs and tax professionals with farm or ranch clients

• Apply key tax planning concepts to farm and ranch taxation (cash accounting methods unique to agriculture, issues of constructive receipt, deferred payments and prepaid expenses)
• Understand passive activity and net investment income tax provisions to treat income as nonpassive
• Determine entities excluded from complex accounting method provisions, including overall accrual method and UNICAP

• Key farm tax planning concepts -- cash accounting methods unique to agriculture, issues of constructive receipt, deferred payments and prepaid expenses
• Passive activity and net investment income tax provisions to treat income as nonpassive
• Why farm income averaging may become more prevalent with increasing income tax rates
• Different cost recovery periods for agriculture -- they're not what you might expect
• Spreading income to other family members to reduce overall tax rates
• Various ways to reduce self-employment tax
• Examples pertinent to small and mid-sized farm operations
  
  
  

None

None