The Tax Cuts and Jobs Act: Reviewing Key Provisions Impacting Agricultural Producers
In this two-hour webinar, we will discuss key provisions of the new tax law impacting agricultural producers and businesses. In addition to discussing generally applicable sections, we will address the 199A deduction and its potential application to different types of income, including that derived from farm rentals and payments from cooperatives. We will also highlight several ambiguities in the law, noting the need for further regulatory guidance.
Speakers will address these issues and others:
- What key individual income tax changes impact producers?
- How does the new 199A deduction impact my client’s business?
- Does the 199A deduction apply to farm rental income or self-rentals?
- What is the latest on the 199A qualified cooperative deduction?
- What are the impacts of the new tax law on estate planning and basis after death?
- How does the new tax law impact depreciation or like-kind exchanges?
Tuesday, January 30, 2018, 12:00 pm CDT
Kristine Tidgren is Assistant Director, Center for Agricultural Law and Taxation, Iowa State University where she analyzes legal developments impacting practitioners and producers. She writes numerous articles on current ag law and taxation issues, teaches an agricultural law class to undergraduate students, and is a frequent speaker on ag and tax law topics. She graduated Order of the Coif from the University of Texas at Austin School of Law and received an undergraduate degree in journalism from Iowa State University. She grew up on a farm in West Central Iowa. Tidgren is a member of the AALA and co-chairs AALA’s Distance Education Committee.
Theodore Feitshans, Extension Professor Emeritus in Economics-Ag/Environmental Law at North Carolina State University, has developed an Extension education program to provide legal information to a wide variety of audiences on environmental, agricultural, and related issues. Ted is currently conducting research on legal issues involving farm business succession. Ted has been a frequent presenter at American Agricultural Law Association (AALA) annual conferences and is a past President of the AALA. Ted earned his J.D. cum laude from Georgetown University, his M.S. in agricultural and applied economics from the University of Minnesota, and his B.S. with honors in animal science from Cornell University.
Marlis Carson is Senior Vice President and General Counsel for the National Council of Farmer Cooperatives, a trade association based in Washington, D.C. In addition to overseeing NCFC’s legal, financial, and tax compliance issues, Marlis coordinates the activities of NCFC’s Legal, Tax and Accounting Committee on federal issues impacting farmer cooperatives. She also serves as NCFC’s corporate secretary/treasurer. Prior to joining NCFC, Marlis served as a tax manager in Ernst & Young’s National Tax Department in Washington, D.C. She grew up in Kansas and is a graduate of Sterling College (Sterling, Kansas) and of The George Washington University Law School. She is a member of the Virginia State Bar.
Charles L. Telk Jr., CPA is the tax partner at Gardiner Thomsen, Certified Public Accountants – a CPA firm specializing in Agricultural Cooperatives headquartered in Des Moines, Iowa. Chuck grew up in Southern California and graduated from California State University, Northridge. Prior to graduating from CSUN, Chuck played football at McPherson College in McPherson Kansas – annually whipping Sterling College (Sterling, Kansas) on the gridiron.
This webinar is the result of the work of the AALA Distance Education Committee, which is comprised of members of the AALA.
AALA appreciates the support of its cosponsor the Center for Agricultural Law & Taxation at Iowa State University.