The Agricultural Tax Issues course is for income tax professionals who work with farmers but will also benefit agricultural professionals such as agricultural lenders and farm management instructors.
Course participants will earn hours in federal tax law updates and federal tax law and related matters. This course has been approved for certified financial planner (CFP) and continuing legal education (CLE) hours. It is not approved for insurance credits.
Registration includes both a PDF and printed version of the 2024 Agricultural Tax Issues book, published by the Land Grant University Tax Education Foundation.
Audience
Tax professionals working with individual and small business returns, including CPAs, enrolled agents, lawyers, VITA volunteers and AFSP participants.
Learning objectives
- Understand the legislative changes to federal and state income tax law and regulations affecting agricultural tax returns.
- Review basic income tax law and its application to selected situations.
- Be equipped to deal with individual taxpayer and business agricultural tax issues.
- Acquire skills to develop a tax research process.
Earn 8 IRS-approved continuing education credit hours
Earn 8 Certified Financial Planner (CFP) credits
Earn 6.5 Continuing Legal Education (CLE) hours
- Qualified conservation contributions
- Farm and ranch elections
- Depreciation of vines and fruit trees
- Breweries, distilleries, and wineries
- Easements
- New legislation and hot topics
- Entity tax issues: split interest purchases, partnership issues
- Disaster tax issues: casualty gains, losses, deferral, demolition, land clearing, etc.
- Expensing and depreciation
- Retirement issues:
- SE tax/social security issues
- Review of SE tax connection to social security
- Retirement plan options for farmers
- Lease vs. purchase, capital leases on the farm
- Tax planning for lean years
- Conservation issues
- Selling and trading property
- Sample return
What type of continuing education credit will I earn for attending University of Minnesota tax courses?
We have applied for the following continuing education credits for the Ag Tax Issues course:
- Internal Revenue Service (IRS): 8 IRS credit hours
- Continuing Professional Education credits (CPE): 8 hours
- Certified Financial Planner (CFP): 8 continuing education credits
- Continuing Legal Education (CLE): 6.5 hours
The University has not been pre-approved as a provider for insurance or real estate credits. However, you may apply for credit through the Minnesota Department of Commerce and approval may be granted.
The University’s tax course is exempt from having a NASBA provider number. According to the MN Administrative Rules 3300, the Minnesota Board of Accountancy accepts our courses accepted for CPE credit. Participants should list “University of Minnesota” in the area for the provider number on the application.
CLEs are self-reported and should be reported through the Minnesota State Board of Continuing Legal Education. To find a course, use the course title “University of Minnesota Income Tax Short Course” and enter the start date of your respective course. The sponsor name is University of Minnesota Extension.
CFPs are reported through the Land Grant University Tax Education Foundation (LGUTEF). LGUTEF has obtained an umbrella accreditation (except for ethics) for the Certified Financial Planning Board for LGUTEF member school seminars using the National Income Tax Workbook.
Will my continuing education credits be reported to the IRS?
If you are a CPA, enrolled agent, or tax return preparer with a PTIN and would like to have your credits reported, you must provide your PTIN when you register or on-site at the course. After completing the course, your name, PTIN, and the number of credits you received will be reported to the IRS.
Please use the same name on your short course registration form that you used to get your PTIN or you will not receive credit from the IRS.
How will I receive my certificate?
Your certificate will be emailed, so you must register with your correct email address to ensure you receive your certificate after the course. If you would prefer to have your certificate mailed to you, please email a request to taxschool@umn.edu.
2024 events
The 2024 Agricultural Tax Issues course will be offered at three in-person workshops and two webinars. All events meet from 8 a.m. to 4:30 p.m.
Please note paper registrations will not be accepted. Lunch, snacks and refreshments are included for in-person classes.
Instructors
- Rob Holcomb, EA, University of Minnesota Extension Educator in Agricultural Business Management
- Nathan Hulinsky, University of Minnesota Extension Educator in Agricultural Business Management
Cost
- Early bird: $180
- Late registration (3 weeks before class): $220
In-person classes (seating is limited)
- Oct. 10 – South Central College, N. Mankato campus, Conf. Room A, 1920 Lee Blvd., North Mankato, MN 56001
- Fee increases to $220 on Sept. 19
- Oct. 16 – University of Minnesota Crookston, Bede Ballroom A & B (2nd floor), Sargeant Student Center, 2900 University Ave., Crookston, MN 56716
- Fee increases to $220 on Sept. 25
- Oct. 17 – St. Cloud Technical and Community College, Northway Building (classroom 1-244), 1540 Northway Dr., St. Cloud, MN 56303
- Fee increases to $220 on Sept. 26
Webinars (Zoom)
- Oct. 8. Registration closes Sept. 24
- Fee increases to $220 on Sept. 17
- Oct. 21. Registration closes Oct. 7
- Fee increases to $220 on Sept. 30
Materials
- All participants receive both a PDF and printed version of the 2024 Agricultural Tax Issues book, published by the Land Grant University Tax Education Foundation.
- The 2024 Checkpoint Federal Tax Handbook may be purchased at a significant discount for $99 (only available for class registrants).
Lodging
Lodging is on your own to find and reserve.
Cancelation policy
Read completely before registering for a workshop.
- Cancelations must be requested by the late registration deadline (2 weeks before a session). All cancelations will incur a $15 administration fee.
- Cancelation requests received after the late registration deadline are not eligible for a full refund.
- To request a cancelation, email all pertinent details to ext-reg@umn.edu.
Upcoming events
Webinar
South Central College, North Mankato campus
University of Minnesota Crookston
St. Cloud Technical and Community College
Webinar
This course has been approved by the IRS Registered Preparer Office. The University of Minnesota Extension is an Approved Continuing Education Provider.
Questions?
Certificates, credits, or general program: 612-625-5923 or taxschool@umn.edu
Registration, switching sessions, cancellations, or creating your profile: ext-reg@umn.edu
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