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.
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.
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