2015-2016 Federal Tax Update: Agricultural Issues (Currently Unavailable)

Author: Stuart P Sobel

Stuart will provide an overview of a variety of significant farm and depreciation tax issues.

Publication Date: October 2015

Designed For
All tax practitioners in public and private practice who need to understand the basics and recent changes in the tax law and procedures.

Topics Covered

• Cash method of accounting for farms
• Tax issues associated with easement payments
• CRP payments as self-employment income
• Income deferral for agricultural producers
• Sale of farm partnership interest
• Meals and lodging
• Qualified farm indebtedness
• Post-death sale of livestock, unharvested crops, and land
• New depreciation legislation
• Review of basics
• Depreciation transactions involving related parties
• Depreciation after incorporating
• Depreciation of assets acquired as a gift
• Depreciation of assets acquired in like-kind exchanges
• Home office
• Recapture
• Correcting depreciation

Learning Objectives

• Properly apply taxes to farm depreciation issues.
• Avoid mistakes in the preparation of 2015 tax returns.
• Identify ways of reducing tax liability through effective tax planning.

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
A basic understanding of tax preparation.

Advance Preparation
None