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Year-End Tax Planning Webinars for Producers

The University of Minnesota Extension will be holding two, 60-minute webinars for agricultural producers. The content of these webinars will be geared toward farm operators and managers. Farm management instructors and agricultural professionals may also find the content useful. This webinar will not qualify for Continuing Professional Education (CPE) or Continuing Legal Education (CLE) hours.

Both webinars will focus on the content of the Tax Cuts and Jobs Act (TCJA) and how TCJA will affect agricultural producers in calendar year 2018.

The two webinars will be held on: 

Thursday, December 13, 2018 -- 1:30 PM to 2:30 PM CST
Join webinar: z.umn.edu/producertaxDec13
And
Friday, December 14, 2018 – 10:00 AM to 11:00 AM CST
Join webinar: z.umn.edu/producertaxDec14

Tentative Topics to be covered include: 

  1. Changes to tax rates, capital gains, standard deduction and personal exemptions 
  2. Child Tax Credit and Kiddie Tax 
  3. Charitable Contributions and Alternative Minimum Tax 
  4. Elimination of Domestic Production Activities Deduction 
  5. Changes to Like-Kind-Exchange rules that affect 2018 Machinery Trades 
  6. Changes to Net Operating Loss (NOL) rules 
  7. Depreciation 
  8. Entertainment, Meals, Fringe 
  9. Section 199A and the impact of 199A to farm operations including calculations of the Qualified Business Income deduction (QBI). 
    1. What qualifies as QBI? 
    2. Impact of sales to a cooperative 
Both of the scheduled webinars will be identical. The instructor for both programs will be Rob Holcomb. Rob is an Enrolled Agent and Extension Educator in Ag. Business Management with the University of Minnesota. Rob heads up the Tax Education programs for the University of Minnesota. There will be no cost for participating in the tax webinars. The webinars will be delivered via WebEx software. Please see the links above for access to both meetings.

A handout will be available for both webinars at the webinar events page. To download a copy of the producer tax webinar handout, please click on one of the handout links below. Clicking on a link below will take you to the events page. Once you are at the events page, click on the handout hyperlink. The handout for the tax webinar will be available on Wednesday, December 12, 2018.
Please direct questions to Rob Holcomb.
Thank you.
 Phone: 507-337-2807
 Email: holcombr@umn.edu
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