Course

Farm & Ranch Income Tax, Estate & Business Planning Conference

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Event Details

Wednesday, September 26 – Thursday, September 27, 2018

8:00am – 4:00pm
(Registration: 7:30am)

Location

Hilton Garden Inn Russell Country Lodging Investors LLC

2520 14th St SW

Great Falls, MT 59404

406-452-1000

Field of Study

Taxation

CPE Credit

16 hours CPE credit

Course Code

FRIT-25

Instructor

Level of Knowledge

Update

Vendor

CliftonLarsonAllen LLP

Prerequisites

None

Description

This seminar is designed to provide attendees with a comprehensive and practical understanding of major agricultural tax, estate and business planning issues. In addition, the speakers are open to questions and responses from the attendees. It is an excellent opportunity for tax practitioners (CPAs, enrolled agents, other tax return preparers, accountants), attorneys and agribusiness professionals to update their knowledge of tax, business and legal matters related to agriculture and farm business activities.

The course offers real world interpretations of recent federal tax law changes as they apply to farm and ranch clients. Learn key tax developments of the past year and identify tax planning opportunities stemming from those developments.

Topics Discussed:

Day 1 – Farm Income Tax

  • Farm income tax cases, rulings and legislative update (recent developments)
  • Tax issue associated with farm corporations
  • Health care law issues of importance to farm/ranch clients
  • Farm Income Averaging
  • Repair/Capitalization update
  • The use of the I.R.C. Sec. 179 deduction in the context of multiple entities
  • Payment-in-kind rules
  • Deferral of livestock sales
  • CRP contracts – purchase and sale allocations
  • Selected like-kind exchange issues
  • Tax issues when a farmer dies
  • The DPAD and agriculture
  • Oil and gas tax issues
  • Self-employment tax issues for farmers
  • Passive activity rules
  • Depreciation topics
  • Farm deduction issues
  • Handling farm losses
  • Trading machinery
  • Recent Developments

Day 2 -  Farm Estate and Business Planning

  • Cases, Rulings and Legislative and Regulatory Update (including new proposed valuation regulations)
  • Long-term care planning
  • Entity Planning and Structuring
  • Entities and the NIIT
  • The Use of Charitable Remainder Trusts
  • GRATs and IDGTs in Estate Planning
  • Small Business Investment Incentives
  • Other Potpourri Issues Involving Estate and Business Planning
  • Using an LLC to Reduce SE Tax and the NIIT
  • Buy-Sell Agreements
  • S Corporations, Partnerships and the 2013 Tax Law
  • The Impact of ATRA on Estate Planning
  • The New Inherited/Transferred Property Basis Returns
  • LLCs and FLPs as Succession Planning Vehicles
  • Tax and Planning Issues Associated with C Corporations

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