Ag producers income tax management program set for Nov. 18

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A tax management program will be offered to producers and tax preparers from 9 a.m. to noon CST on Monday, Nov. 18, at 11 interactive video sites in North Dakota.

The program, sponsored by the North Dakota State University Extension Service and Internal Revenue Service, will feature presentations by Ann Makres, IRS; Steve Eckroth, Eide Bailly, Bismarck; Rhonda Mahlum, Mahlum Goodhart PC, Mandan; Rick Mapel, AgCountry Farm Credit Services, Grand Forks; and Steve Troyer, Eide Bailly, Fargo.

Experts will provide federal income tax updates and tax management alternatives while producers still have time to implement year-end tax management decisions.

Topics include:

  • Federal income tax update
  • IRS issues
  • Depreciation
  • Foreign Account Tax Compliance Act
  • Net investment income surtax
  • C-corporation succession planning
  • Family limited partnerships for succession and asset transfer
  • Affordable Care Act: selected tax issues
  • Payroll and related issues
  • Farm income averaging

A session on year-end tax planning will provide an overview of when to accelerate or defer income in conjunction with expense timing to manage tax liabilities now and for the future.

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 $12.

Interactive video sites for the program are at Bismarck State College; North Dakota School for the Deaf, Devils Lake; Bottineau County Courthouse, Bottineau; Dickinson State University Klinefelter Hall; NDSU, Fargo; County Office Building, Grand Forks; Law Enforcement Center, Jamestown; North Dakota State College of Science, Wahpeton; and NDSU Research Extension Centers in Minot, Langdon and Williston.

For additional information or registration, call the NDSU Extension Service in Fargo at (701) 231-8642.



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