Title

Income Tax Management for Ag Producers (Virtual)

Date(s)
- CST
Location
Location:
Presented via Zoom
Registration
Body

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. 

Pre-registration is required.
Registration fee: $10.00
Registration deadline: November 26, 2021

When registering, you must include an email to be able to attend the meeting.

  • Registered attendees will receive the Zoom link by email on Monday, Nov. 29.
  • All program material will be posted for downloading prior to the meeting.
  • Continuing education credits will not be offered.

All participants will have the opportunity to ask questions via the chat box. Please call the NDSU Extension Service at 701-231-7393, 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 year

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 35 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.

Jason Grunewald – Senior Tax Specialist, AgCountry Farm Credit Services in Wahpeton, North Dakota.  Grunewald has a B.S. degree in accounting from Minnesota State University Moorhead and CPA license in  Minnesota and North Dakota. He has nine years of experience in farm tax preparation and planning.

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 21 years.

Contact Information

Contact Information

NDSU Agribusiness & Applied Economics