Are your farm and ranch clients enjoying every tax advantage they deserve? Learn how to recognize unique tax opportunities and pitfalls for taxpayers in the agricultural industry at the WSCPA Farm Tax Virtual Conference! During the premier CPE event for agribusiness tax professionals, Paul Neiffer and Chris Hesse will drill down into the latest tax regulations including the CARES Act, other tax-related developments due to the COVID-19 crisis, and the Tax Cuts and Jobs Act (TCJA) and their impact on agricultural taxation. Register today and make sure you're working with the latest knowledge.
Tax Cuts and Jobs Act changes and the impact on agricultural taxation. An in-depth discussion of the deduction for qualified business income under Section 199A, and how producers might restructure for additional advantages; Examples of gross receipts limitations and application to related parties for purposes of determining exemption from complex accounting methods and limitations; Analysis of pass-through versus C corporation entity planning for operating enterprises; Application of bonus depreciation in applying Sec. 754elections in partnerships; How FSA planning affects the entity selection process; Tax reform provisions that remain unknown and that will require guidance from the IRS.
2 years of experience with farm tax return preparation recommended
CPAs and other tax professionals representing agricultural producers and processors
Increase understanding of the impact of the Tax Cuts and Jobs Act, the CARES Act and recent tax-related COVID-19 developments in agribusiness. Recognize key tax planning opportunities embedded in tax reform for agricultural producers and processors. Describe when an activity rises to the level of a trade or business for the Section 199A Qualified Business Income deduction, Excess Business Loss, and business interest expense limitations. Demonstrate common ownership for purposes of aggregation and deemed trade or business status for the QBI deduction. Differentiate key points in entity structure planning for clients when evaluating the C corporation alternative to pass-through taxation. Recall recent IRS notices, revenue procedures and other IRS releases guiding taxpayers in the application of the TCJA.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a partner with CliftonLarsonAllen (CLA) in Yakima, Washington, as well as a regular speaker at national conferences and contributor at agweb.com.
Paul regularly publishes timely content on CLA’s agribusiness blog, Farm CPA Today. He covers topics, including taxation, accounting, succession planning, new laws, major agribusiness events, and other issues that are unique to farmers and agribusiness processors.
Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. In fact, Paul and his wife purchased a ranch which has cattle, goats and chickens.
Mr. Hesse is a principal in the National Tax Office of CliftonLarsonAllen LLP (CLA) focusing on domestic federal income tax issues. He has 40 years of tax experience in public accounting and more than 35 years of speaking and training experience. His career includes extensive writing and analysis services, instructing at numerous seminars and conferences throughout the country, and testifying before Congressional and legislative committees on tax policy matters, including farm income averaging, the Alternative Minimum Tax on deferred payment contracts, and the Washington estate tax. Mr. Hesse currently serves as the chair of the AICPA Tax Executive Committee. He is a former chair of the AICPA S corporation technical resource panel and former member of the AICPA Accounting Methods and Periods technical resource panel. He is also on the AICPA National Tax Conference planning committee, instructing breakout sessions on Section 199A and other developments from the Tax Cuts and Jobs Act. Chris is an author and instructor of CLA’s Tax Advisors Update, an annual compilation of court cases, rulings and other authorities created by practitioners for practitioners. In addition, Mr. Hesse is an author and instructor of CLA’s Farm Tax Seminar, providing guidance on the unique accounting methods and planning opportunities available for agricultural producers.
Non-Member Price $410.00
Member Price $310.00