Income Tax For Ag Producers
Whether you do your income tax planning, preparation, and filing yourself or use a professional accountant or tax professional, understanding changes and options for the tax year can be important. Ron Haugen, NDSU Extension farm management specialist will be the moderator for this year’s Ag Producers Income Tax Management Program set for Nov. 30.
If you are a tax preparer or a producer who wants to be better prepared to answer the questions or understand the options your tax preparer has for you this online seminar will be worth your time.
Ag producer’s income tax management program set for Nov. 30
A tax management program will be offered to ag producers and tax preparers from 1 to 4 p.m. CST on Thursday, Nov. 30, via Zoom.
The program, sponsored by North Dakota State University Extension, will be moderated by Ron Haugen, NDSU Extension farm management specialist. The program will feature presentations by Alan Gregerson, Internal Revenue Service; Russ Tweiten, Ag Country Farm Credit Services; Rob Holcomb, University of Minnesota Extension and North Dakota Tax Commissioner Brian Kroshus.
The program will provide an excellent opportunity for agricultural producers and tax preparers to learn and ask questions about tax management alternatives while there is still time to implement year-end tax management decisions.
Program topics include:
- Federal income tax update
- IRS update
- ND income tax update
- Identity theft and breaches
- Tax management upon retirement
- Net operating losses, like-kind exchanges
- Drought-forced livestock sales
- Qualified business income
- Tax planning for higher income years
Preregistration is required by Monday, Nov. 27. The cost for the virtual program and materials is $15. To register, visit ndsu.ag/taxmanagement.
When registering, you must include an email to be able to attend the Zoom meeting. Registered attendees will receive the Zoom and materials link by email on Wednesday, Nov. 29. All participants will have the opportunity to ask questions via the chat box.
All program materials will be posted for downloading prior to the meeting. Continuing education credits will not be offered.
For additional information or questions, contact Paulann Haakenson at [email protected] or 701-231-7393.