Monday, January 14, 2019

Tax Filing Season Update and Summer Seminar!


I will be doing an early tax season 2-hour continuing education event in February, and the date is set for Washburn Law School’s summer ag tax and estate/business planning conference.  These events are the topic of today’s post – tax season CLE/CPE and summer seminar.

Tax Season Seminar/Webinar

The Tax Cuts and Jobs Act (TCJA) enacted in late 2017, has dramatically changed the computation of taxable income and tax liability.  One result of this tax reform is that practically all farmers and ranchers will see a lower tax liability. One of the primary reasons for this, at least for sole proprietorships and pass-through entities is the 20 percent qualified business income deduction (QBID).  Depreciation rules also have changed significantly as have the rules surrounding like-kind exchanges.  Indeed, the disallowance of like-kind exchange treatment for post-2017 trades of personal property also has self-employment tax implications that must be accounted for.  There are also numerous other provisions that can impact the tax return including changes in various credits, the doubling of the standard deduction, the elimination of many itemized deductions, changes to loss limitation rules and changes to methods of accounting.   

On February 8, 2019, I will be conducting a 2-hour CLE/CPE from noon to 2 p.m. (cst).  The seminar will be held live at the law school and will also be simulcast over the web.  I will cover the latest changes to IRS forms, Treasury Regulations, and any other last-minute developments impacting the filing of returns during the 2019 filing season.  Hopefully, the QBID final regulations will be released before the seminar in time to allow analysis and comment.  They are due to be released by January 28 but could be released before then unless the partial government shut-down causes a delay.  In any event, attendees will get the latest update of what is necessary to know for filing 2018 returns. 

For more information about the February 8 event, click here:

To register click here:

2019 Summer Seminar

Washburn Law School’s rural law program in conjunction with the Department of Agricultural Economics at Kansas State University will be hold it’s 2019 summer farm income tax and estate/business planning seminar in Steamboat Springs, Colorado on August 13 and 14 at the Grand Hotel.  On August 13 myself and Paul Neiffer will be addressing key farm income tax planning concepts, particularly how the final regulations under I.R.C. §199A apply in the farm/ranch context.  On August 14, myself and others will be addressing important estate and business planning principles that can be applied to farm and ranch estates. 

The summer seminar is also being co-sponsored by WealthCounsel, a network of estate and business planning attorneys that provide educational seminars and an automated drafting system, among other things. 

Hold the date for the summer seminar and be watching for further details.  If you aren’t able to attend in person, the seminar will be live simulcast over the web. 


2019 will be another very busy year on the ag tax and estate/business planning front.  I hope to see you at any event somewhere along the road.

Estate Planning, Income Tax | Permalink


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