The Farm Tax Playbook: Creating Wins for Clients

Thur., Sept. 25
8:00 AM – 4:30 PM Central

Farm taxation is changing—and so must your strategies. This year’s seminar delivers a practical “playbook” to help you navigate shifting legislation, entity structures, and transitional planning challenges. From the One Big Beautiful Bill Act to advanced liquidation strategies, you’ll gain clear, actionable guidance to help clients manage risks and seize opportunities.

Participants will hear from a lineup of respected experts in the ag tax field, each bringing deep experience and practical guidance to the discussion. Through real-world examples and focused analysis, attendees will gain clarity on complex issues and walk away with actionable strategies to apply in their practice. Join us for a comprehensive and timely look at the tax issues that matter most to farm clients today.

Earn up to 8.0 CPE credits at this live, online seminar.

Register Now!

Online Seminar

Seminar Details

Date: Thursday, September 25, 8:00am – 4:30pm Central (with morning and afternoon breaks)
Format: Live, online (internet-based)
Registration Fee: $260.00
CPE Credits: Up to 8.0 based on attendance and completion of engagement activities.
CPE Filings Available: Illinois MCLE, IRS
NASBA Program Level: Federal Tax Topics

Your registration includes a digital copy of the accompanying written materials, including presentation slides. The materials will be available in your online Tax School account a few days before the seminar and will remain accessible for printing or downloading for approximately one year. A recording will be available for a year after the seminar.

Agenda

A full timed agenda with topics is below.

8:00 AM – Introduction

8:05 AM – The One Big Beautiful Bill Act (OBBBA) impact

- - - Depreciation
    - Research & development
    - Farm real estate issues
    - Farm program payment adjustments

10:00 AM – Q&A

10:15 AM – Break

10:30 AM – Transitional tax strategies when liquidating

- - - Cash balance retirement plans
    - Compensation of owners
    - Multi-year tax planning
    - Impact of Social Security and Medicare
    - Income averaging
    - Capital gain vs. ordinary gain

12:30 PM – Q&A

12:45 PM – Lunch

1:30 PM – Entity tax strategies

- - C corporation liquidations – split interest land, convert to S corporation, decrease earnings
  - S corporation operating strategies – self-employment tax, compensation, post-C corporation planning, post-death conversion, revoke S election
  - Partnership operating – §754/743(b), guaranteed payments, QBID, passthrough entity, hot assets

3:30 PM – Break

3:15 PM – Entity tax strategies, cont.

4:00 PM – Q&A

4:30 PM – Adjourn

Seminar Instructors

We are pleased to welcome back Bob Rhea, a longtime Tax School instructor and seasoned farm tax professional. He will be joined by additional instructors who will cover their specific areas of expertise. Among them are Roger McEowen, Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas, Tina Barrett, Executive Director of Nebraska Farm Business, Inc., and Brad Zwilling, Vice President of Data Analysis for Illinois Farm Business Farm Management (FBFM).

Learning Objectives & Materials

Learning Objectives: By the end of this seminar, you will be able to:

Analyze depreciation provisions under the One Big Beautiful Bill Act (OBBBA) and their effect on agricultural assets.
Explain changes to research and development deductions and credits as applied to farm operations.
Evaluate the impact of OBBBA provisions on farm real estate and farm program payments.
Apply tax strategies involving cash balance retirement plans during farm business transitions.
Assess options for compensating owners during liquidation or restructuring.
Implement multi-year tax planning approaches for transitional farm businesses.
Evaluate the effect of Social Security and Medicare rules on liquidation and retirement strategies.
Differentiate between capital gain and ordinary income treatment in common liquidation scenarios affecting farm clients.
Compare entity-level tax strategies for C corporations, S corporations, and partnerships to optimize outcomes for farm operations.

Materials: All attendees of this online seminar will receive accompanying written materials, including presentation slides, digitally in their Tax School account. The seminar will be recorded and will be available in your online Tax School account for playback within two weeks of the seminar.

Delivery Method: Group Internet-Based

Field of Study: Taxes (NASBA), Federal Tax (IRS)

Prerequisite(s): Experience as a tax professional preparing farm tax returns and an understanding of tax rules and regulations associated with preparing farm tax returns.

CPE Credits

Seminar CPE

Organization	Credit Hours
CPE credits	Up to 8 based on attendance and responses to polling questions.
Field of Study (NASBA)	Taxes (8)
IRS	Federal Tax (8)
IL MCLE	Taxation (6.5)

Credit is based on actual attendance time and participation in polling questions for live online webinars and seminars. Most accrediting groups recognize 1 hour of credit per 50 minutes of instruction. Some CLE groups recognize 1 hour of credit per 60 minutes of instruction.

Certificates of attendance are issued to participants via email within two weeks of the seminar.

CPE Accreditation

The University of Illinois Tax School is a sponsor of CPE for a variety of professional designations such as CPAs, EAs, attorneys, and insurance, etc. Agencies that typically recognize the University of Illinois Tax School as a sponsor of continuing education are:

Illinois Department of Insurance
Illinois Department of Professional Regulation
Internal Revenue Service
Iowa Supreme Court Commission on Continuing Legal Education
Missouri Bar Association
MCLE Board of the Supreme Court of Illinois

Visit Frequently Asked Questions for information about affiliated CPE organizations and about Tax School’s CPE policies and procedures.