Title

Income Tax Management for Ag Producers

Date(s)
- CST
Location
Location:
Online (Zoom)
Registration
Body

Registration Fee: $10
Registration deadline: Nov. 28, 2022

  • When registering, you must include an email to be able to attend the meeting.
  • Registered attendees will receive the Zoom link by email on Wednesday, November 30.
  • All program material will be posted for downloading prior to the meeting.
  • Continuing education credits will not be offered.

This program provides 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.

There will be updates regarding federal income taxes. The IRS will speak on new legislation, preventing identity theft and data breaches. Qualified business income will be discussed.  Deferral of income and replacement periods for livestock sold due to drought will be explained. Defined benefit plans as a tool for tax management upon retirement will be discussed.

All participants will have the opportunity to ask questions via the chat box. Please call the NDSU Extension Service at 231-7393, or contact your local county agent, if you have questions about the program.

Program Topics Include:

  • Federal Income Tax Update
  • IRS update
  • Identity theft and breaches
  • Tax management upon retirement
  • Net operating losses, like-kind exchanges
  • Drought-forced livestock sales
  • Deferred crop sales
  • Qualified business income
  • Tax planning for higher income years
  • Inflation Reduction Act

Presenters and Panel Members

Alan Gregerson – Stakeholder Liaison, Communication and Liaison Division of the IRS. Gregerson has previously held positions as a Revenue Agent in field examination and as a  Taxpayer Service Specialist. He received his Distinguished Toastmaster Designation in Public Speaking has a Bachelor Degree from the University of Minnesota and has 36 years of  IRS experience.

Rob Holcomb – Extension educator, University of Minnesota. Holcomb works on the development and delivery of educational programs dealing with agricultural risk management. He  has been an instructor for the Minnesota Income Tax Course since 2010 and, in 2011, he began serving as the tax school faculty director. Holcomb holds a bachelor of science degree 
from Iowa State University in agricultural education and also holds a master of education degree from the University of Minnesota Duluth.

Russ Tweiten – Vice president, Agribusiness Consulting. Tweiten helps families work through the complex issues of estate planning, entity planning and farm transition. He also helps  mentor and monitor the process of planning for retirement. Raised in Fargo, N.D., he holds a B.S. degree in Agricultural Economics from NDSU. He is a certified trust and financial 
adviser and a chartered retirement planning counselor. He has been in the financial services business for more than 22 years.

Contact Information

Contact Information

Paulann Haakenson

Requests for accommodations related to disability should be made to the event contact person at least two weeks in advance of the event.