Ag producers income tax management program set for Dec. 1

Program speakers will provide tax updates on topics such as drought forced livestock sales and deferred crop sales.

A tax management program will be offered to producers and tax preparers on Dec. 1 from 1 to 4 p.m. Central time, via Zoom technology.

“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,” says Ron Haugen, North Dakota State University Extension farm management specialist.

The program, sponsored by NDSU Extension and the Internal Revenue Service, will feature presentations by Alan Gregerson, IRS; Kelda Rerick, Haga Kommer, Ltd, Bismarck; Russ Tweiten, Agribusiness Consulting; and Rob Holcomb, University of Minnesota Extension.

Experts will provide federal income tax updates and tax management alternatives.

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 deduction (199A)

Preregistration is required. The cost for the virtual program and materials is $10. You must connect using Zoom to participate.

For additional information or questions contact Paulann Haakenson at paulann.haakenson@ndsu.edu or 701-231-7393.

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