A tax management program sponsored by the NDSU Extension Service and Internal Revenue Service is scheduled to be offered Nov. 18, from 9 a.m. to noon at 10 interactive video sites across North Dakota.
The program provides an opportunity for agricultural producers and tax preparers to learn and ask questions about tax management alternatives while producers still have time to implement year-end tax management decisions.
The program will include an overview of when to accelerate or defer income in conjunction with expense timing to manage tax liabilities now and for the future. New reporting forms in 2015, due to the Affordable Care Act, will be explained.
Topics include:
• Federal income tax update
•Affordable Care Act (ACA) reporting
• ACA and the small employer
• Identity theft and scams of tax information
• Proper handling of Commodity Credit Corp. loans
• Repair regulation update
• Succession and estate planning
• Proper entities for government payments
• Farm income averaging
• Tax planning ideas for 2015 and beyond
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 $15.
The program will feature presentations by Ann Makres, IRS; Judy Gilbertson, AgCountry Farm Credit Services, Jamestown; Rhonda Mahlum, Mahlum Goodhart PC, Mandan; Jess Nehl, Eide Bailly LLP, Bismarck; and Steve Troyer, Eide Bailly LLP, Fargo.
Program locations are:
• University of Mary, Butler Center, Bismarck
• North Dakota School for the Deaf, Devils Lake
• Stark County Courthouse, Dickinson
• NDSU, Quentin Burdick Building, Fargo
• Grand Forks County Office Building, Grand Forks
•James Valley Career and Technical Center, Jamestown
• North Dakota State College of Science, Wahpeton
• Broadway Commons, Williston
• Langdon Research Extension Center, Langdon
• North Central Research Extension Center, Minot
The program is an approved IRS continuing education provider for three credits.
For additional information or to register, call the NDSU Department of Agribusiness and Applied Economics at 701-231-8642.
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