Farm Tax Course

Timber Tax Course
Upcoming Farm Tax Courses
Tuesday, October 25, 2022
Online Delivery Through Zoom
8:00 AM - 12:00 PM
Cost: $150.00
IRS Program Code: 3XKET-T-00029-22-O (Online)
4 Credit Hours
Register at Eventbrite for this Course: https://www.eventbrite.com/e/2022-clemson-university-farm-tax-course-tickets-342912760297

  • Course Topics
    Topics covered will be selected portions of the 2021 Ag Tax Issues workbook created by the Land Grant University Tax Education Foundation, Inc. (LGUTEF) Participants will receive a copy of the book following registration and prior to the start of the event.

    General topics covered will include:
    Ch. 1: Timely Tax Issues Impacting Agricultural Producers
    - Tax planning for high income years
    - Crop insurance and disaster payments
    - Closing out a farm business

    Ch. 4: Using A Partnership to Transfer the Farm
    - Tax benefits and considerations of partnerships for generational transfer
    - General application to LLCs
    - Differences between partnerships and LLCs

    Ch. 5: Depreciating and Expensing Farm Assets
    - Current depreciation and expensing rules for farm assets
    - Detailed rules for common farm assets
    - Recovery periods, additional first year depreciation, and section 179

    Ch. 6: Reporting Hedging and Speculative Transactions
    - Gain or loss on futures / options contacts that is reported on Schedule F
    - Speculative transactions reported on Schedule D
    - Distinctions between hedging and speculation and the reporting rules for these common transactions

    Ch. 9: Sale and Exchange of Farm Property
    - Form 4797
    - Calculating and reporting gains and losses on the disposition of business assets
    - Tax reporting for sales and like-kind exchange of farm property

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  • Course Faculty
    Guido van der Hoeven, Agricultural Tax Specialist, Iowa State University

    Guido van der Hoeven was an Extension Specialist / Senior Lecturer, in the Department of Agricultural and Resource Economics at North Carolina State University in Raleigh, North Carolina prior to his retirement. Guido’s extension experience includes income taxation of individuals and business entities, farm business management and the profitable continuation of "family firms" to succeeding generations. Van der Hoeven is an Enrolled Agent and presents income tax educational programming across the United States. He has over 40 years of experience in taxation with a focus on farming and natural resources issues. Guido is also the President of the Land Grant University Tax Education Foundation, Inc. which publishes a ~700 page text for income tax training of professional tax practitioners.

    Guido van der Hoeven holds a B.S. in Natural Resource Management – Soils and a M.S. in Agricultural Economics from Kansas State University. Guido is married; he and Emily, his wife, have four adult children and two grandchildren.

  • Continuing Education Credits
    For CPA, Enrolled Agents and Other Tax Professionals: 4 hours of CPE
    For Attorneys: 3.30 hours of CLE

    *CPA, EA and other Tax Professionals are based on a 50-minute credit hour while attorneys are based on a 60-minute credit hour. The total time of instruction is 200 minutes. Extra time is allotted for online sign-in and a 20 minute break. (*) Extra time is allotted for Q&A at the end of the Workshop for those that wish to stay on. Online sign-in begins at 7:45 am.
  • Course Materials

    Participants will receive a copy of the LGUTEF 2022 Ag Tax Issues book following registration and prior to the start of the online event. Physical copies of the book will be mailed to the address we have on file through registration (limited supply). For those that register after all physical books are spoken for will receive an electronic pdf version of the text.

    Participants will receive via e-mail the PowerPoint presentation slide set by the start of the event.

    Registrations within a week of the event date may not receive their copy of the workbook before the event due to shipping delays.

  • Reporting to the IRS

    Completed credit hours will be reported to the IRS within two weeks of the course completion for all participants providing their PTIN number during registration. Please be sure to include your name as it is listed with the IRS and that your PTIN number is valid for the current year. The IRS Program ID for this course is: 3XKET-T-00029-22-O.

  • Reporting to the CLE

    Completed credit hours will be reported to the Commission on CLE and Specialization of The Supreme Court of South Carolina within one week of the course completion for all participants providing their bar number during registration.

  • Online Access to Zoom Webinar
    The Zoom link and instructions to access the webinar will be provided with the confirmation email after completing registration and providing payment through the Eventbrite registration process. Please make sure to check your Inbox folder. If you do not receive this email within 24 hours after completing your purchase, please check your Spam folder and/or email us at tax@clemson.edu

    A reminder email with the Zoom link and instructions are sent again 48 hours before the course begins. Finally, if you are not familiar with Zoom, please be sure to test your system before the event as in very rare cases the firewall settings in your computer or within your network may prevent you from logging into the platform. You can go to: https://zoom.us/test and test your internet connection by joining a test meeting. Once you access the Test meeting, you will be able to check your speakers and microphone functionality. You will not need to have a video camera or a microphone for this event. You will be able to communicate through the Chat and Q&A function of the webinar.

    Polling Questions
: Per IRS requirements to receive full credit for the course we will be asking 4 polling questions throughout each 50 minute period. You will need to respond (does not have to be a correct response) to 3 of the 4 polling questions to receive full credit for that hour.

    - Moderator/Group Sign in and out form for participants attending as a group.
    - Zoom Webinar Set Up Guide and Protocols that will help you to get the most out of your Zoom experience as well as solve any connection issues you may have.

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