Ag producers income tax management program set for Nov. 18 |

Ag producers income tax management program set for Nov. 18

A tax management program sponsored by the NDSU Extension Service and Internal Revenue Service (IRS) will be offered Nov. 18, from 9 a.m. to noon CST at 10 interactive video sites across North Dakota.

The program provides an opportunity for agricultural producers and tax preparers to learn and ask questions about tax management alternatives while producers still have time to implement year-end tax management decisions.

The program will include an overview of when to accelerate or defer income in conjunction with expense timing to manage tax liabilities now and for the future. New reporting forms in 2015, due to the Affordable Care Act, will be explained.

Topics include:

Federal income tax update

Affordable Care Act (ACA) reporting

ACA and the small employer

Identity theft and scams of tax information

Proper handling of Commodity Credit Corporation (CCC) loans

Repair regulation update

Succession and estate planning

Proper entities for government payments

Farm income averaging

Tax planning ideas for 2015 and beyond

Four question-and-answer periods are scheduled during the three hour program. Preregistration is required because seating is limited. The cost for the program and materials is $15.

The program will feature presentations by Ann Makres, IRS; Judy Gilbertson, AgCountry Farm Credit Services, Jamestown; Rhonda Mahlum, Mahlum Goodhart PC, Mandan; Jess Nehl, Eide Bailly LLP, Bismarck; and Steve Troyer, Eide Bailly LLP, Fargo.

Program locations are:

University of Mary, Butler Center, Bismarck

North Dakota School for the Deaf, Devils Lake

Stark County Courthouse, Dickinson

NDSU, Quentin Burdick Building, Fargo

Grand Forks County Office Building, Grand Forks

James Valley Career and Technical Center, Jamestown

North Dakota State College of Science, Wahpeton

Broadway Commons, Williston

Langdon Research Extension Center, Langdon

North Central Research Extension Center, Minot

The program is an approved IRS continuing education provider for 3 credits.

For additional information or to register, call the NDSU Department of Agribusiness and Applied Economics at (701) 231-8642.

–NDSU Extension


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