Farm and Ranch Income Tax/Estate and Business Planning Seminar/Webinar, August 2021 (Montana)

Washburn University School of Law presents the two-day seminar "Farm and Ranch Income Tax/Estate and Business Planning Seminar" on Monday, August 2 and Tuesday, August 3, 2021 at Hilton Garden Inn in Missoula, Montana. This program is appropriate for agribusiness professionals, attorneys, certified public accountants, enrolled agents, tax practitoners, and others interested in income tax and estate/business planning issues impacting farmers, ranchers, and rural landowners..

This program may be attended either in person or online
In-person attendance is limited to 75 individuals.
(see "Information for Online Attendees" in the sidebar).

Register and Pay Online

NOTE: All times shown below are Mountain Time (ET); e.g., 8:00 a.m. MT = 10:00 a.m. Eastern Time = 9:00 a.m. Central Time = 7:00 a.m. Pacific Time.

About the Presenters

Photograph: Roger McEowen.Roger McEowen, J.D., Kansas Farm Bureau Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. He is a member of the Iowa and Kansas Bar Associations and is licensed to practice in Nebraska. McEowen publishes the online Washburn Agricultural Law and Tax Report (WALTR) which focuses on legal and tax issues that agricultural producers, agricultural businesses, and rural landowners face and he maintains the Agricultural Law and Taxation Blog. He is also widely published in law reviews and agricultural law publications and conducts agricultural tax and law seminars across the country. McEowen is also heard weekly on RFD-TV.
Learn more about Roger McEowen.

Photograph: Paul Neiffer.Paul Neiffer, CPA, is a principal in the Agribusiness Group at CliftonLarsonAllen. Based in Yakima, Washington, he specializes in income taxation and accounting services related to farmers and processors. Neiffer actively consults with farm families on succession planning issues and opportunities, and helps farmers understand the proper use of accounting systems to more profitably run their business. He authors a monthly column for Top Producer magazine and maintains the Farm CPA Today blog.
Learn more about Paul Neiffer.

Matt Bohlmann started with IRS in 1995 as a Revenue Agent in Mansfield, Ohio. He transferred to IRS-CI in September of 2000 and reported to the Dayton, Ohio Post of Duty. He and his family voluntarily moved to Springfield, Illinois in 2010 where he became the Supervisory Special Agent in July 2012. As the Supervisor in the Chicago Field Office, Matt was heavily involved with management of investigations as well as the special agent training programs. He has conducted training and presentations on various topics to internal and external stakeholders. Matt is currently serving as the IRS-CI Senior Analyst National Coordinator for the Identity Theft program under Cyber Crimes-Headquarters.

Photograph: Gary Brester.Gary Brester is Professor Emeritus in the Department of Agricultural Economics and Economics at Montana State University. He was raised on an irrigated sugar beet and malting barley farm near Laurel, Montana. Dr. Brester has two degrees from MSU: a BS in Agricultural Business and an MS in Applied Economics. He received his Ph.D. in Economics from North Carolina State University. Dr. Brester had been a faculty member at Kansas State University (7 years) and at Montana State University (22 years). His primary research areas include the economics of the cattle and grain industries, technological innovations, agricultural policy, international trade, financial regulation, and production agriculture issues. He is currently an Adjunct Professor at the California Polytechnic State University's College of Business.

Photograph: Shawn Leisinger.Shawn S. Leisinger, '99, is the Associate Dean for Centers and External Programs at Washburn Law. Previously he served as Assistant General Counsel to the Kansas Corporation Commission Oil and Gas Conservation Division and as Assistant Shawnee County (Kansas) Counselor. Leisinger has coached the Washburn Law American Bar Association Client Counseling competition team since 2003 and the Negotiation competition team since 2008. He has also taught the Interviewing and Counseling and the Professional Responsibility courses and regularly teaches continuing legal education sessions.
Learn more about Shawn Leisinger.

Photograph: Katherine Merck.Katherine Merck, joined the Falen Law Offices in September 2020. Prior to joining the firm, Katherine practiced law in Coeur d'Alene, Idaho and represented clients in employment and insurance defense matters as well as serving as a public defender for several North Idaho counties. She graduated from the University of Notre Dame in 2012 with a double major in finance and medieval studies before attending Gonzaga University School of Law, where she graduated magna cum laude in 2017. At Gonzaga, Katherine was a member of the Federal Tax Law Clinic and focused her studies on tax law, estate planning, and environmental law. An avid fly-fisher, Katherine co-founded the Gonzaga Rod & Gun Club to educate fellow law students on the practices and legalities of fishing and hunting in the Northwest.
Learn more about Katherine Merck.

Photograph: Robert Moore.Robert Moore, and his wife Kelly, are the owners of Wright & Moore Law Co. LPA, in Delaware, Ohio. The primary focus of his practice is farm succession planning, estate planning, and business organizations. He also works with clients on real estate transactions, landlord/tenant issues, contracts and many other issues related to agricultural law. Moore received a Bachelor of Science degree in Dairy Science and a Master of Science degree in Agricultural Economics from The Ohio State University. He spent four years as an Agricultural Extension Agent in Fairfield County, Ohio and five years as an Extension Associate in the Department of Agricultural, Environmental and Developmental Economics. Moore graduated from Capital University Law School in 2005. He gives many presentations each year for various farm groups.
Learn more about Robert Moore.

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Schedule

Monday, August 2, 2021 (Day 1)

8:00-8:15 a.m. — Welcome, Announcements and Comments from Vendors

8:15-9:15 a.m. — Farm Income Tax Caselaw and IRS Update (McEowen)

What have been the big agricultural tax issues in the courts and with the IRS over the past year? This session provides a review of the significant caselaw and regulatory/administrative developments of importance to tax practitioners with an ag clientele base.

9:15-10:00 a.m. — ERC and PPP: Lingering Issues and Details (Neiffer)

During 2020, two new programs were created in an attempt to provide economic relief to businesses and individuals affected by state governmental actions as a result of the virus. Many issues and questions were presented concerning the interaction of the Employee Retention Credit (ERC) and the Paycheck Protection Program as those programs were modified throughout 2020. Tax practitioners dealt with many client questions during the 2020 tax season. This session provides a review and update of the issues that remain and how to address them.

10:00-10:20 a.m. — Morning Break

10:20-11:20 a.m. — Miscellaneous Topics (McEowen and Neiffer)

This session examines several topics of importance to practitioners of farm and ranch clients, including: farm NOL rules and planning opportunities; review of additional planning opportunities derived from various "stimulus" laws; like-kind exchanges; proper handling of business interest; amending partnership returns; basics of oil and gas taxation; and tax rules associated with timber farming.

11:20 a.m.-Noon — Final I.R.C. §199A Regulation (Neiffer)

In early 2021, the Treasury Department Finalized regulation under I.R.C. §199A as applied to agricultural and horticultural cooperatives. This session looks at how the final regulations impact cooperatives and their patrons.

Noon-1:00 p.m. — Lunch (provided)

1:00-2:15 p.m. — Protecting Yourself and Your Clients Against a New Wave of Criminals (Bohlmann)

As your business increases its protection against cyber threats, the criminals are increasing their efforts to gain access to your data. Hear what you can do to help protect against tax fraud and this new wave of cybercriminals. This session will cover what the IRS Criminal Investigation Division is doing to combat the emerging areas of refund fraud and cybercrime and assist practitioners with protecting client data and confidence in the tax system.

2:15-2:35 p.m. — Afternoon Break

2:35-3:50 p.m. — Advanced FSA Planning (McEowen and Neiffer)

A distinctive feature of income tax and entity planning for farmers and ranchers is qualification for federal farm program payments. This session will break down the basic requirements for farm program eligibility, discuss the various types of program payments that are available, and provide tax planning and entity structure tips for balancing tax minimization with farm program payment maximization.

3:50-4:35 p.m. — Tax Legislation, Policy and Implications for Clients: What Now? (McEowen)

This session will examine tax legislation that has been enacted in 2021 up to the date of the conference. The potential for dramatic change in tax policy creates many issues for tax practitioners and their clients. What are the most important areas that impact tax planning for clients? What is the impact on capital gains tax rates? Is Social Security planning affected? How should clients be advised? What tax planning techniques should be taken to minimize the impact of higher effective tax rates. This session will be comprehensive in nature and provide the clearest roadmap possible at the time for a path forward for clients.

4:35 p.m. — Adjourn

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Tuesday, August 3, 2021 (Day 2)

8:00-8:05 a.m. — Welcome and Announcements

8:05-8:45 a.m. — Farm Estate and Business Planning Caselaw and IRS Update (McEowen)

This session reviews the developments in the courts and IRS/Treasury relevant to farm estate and business planning over the prior year.

8:45-10:00 a.m. — Farming and Ranching: Scale, Structure, Myths, and Realities (Brester)

Many myths, much mystique, and major misperceptions exist regarding the state of U.S. and Montana production agriculture. The scale of the sector is enormous and the commodity nature of the majority of agricultural products means that farmers and ranchers must adopt low-cost competitive strategies to be successful. In addition, the role of technological change in the improvement of standards of living is often taken for granted, or completely misunderstood. This seminar will provide a data-based description of the U.S. food and fiber sector.

10:00-10:20 a.m. — Morning Break

10:20-11:00 a.m. — Special Use Valuation: Key Concepts (McEowen)

With the possibility of a decrease in the federal estate and gift tax exemption equivalent of the unified credit, the federal estate tax becomes an issue for a higher percentage of farming and ranching operations. This session outlines the key issues for estate planners doing pre-planning for the possibility of an election in a decedent's estate and issues that can arise post-death.

11:00 a.m.-Noon — Corporate Reorganizations: Divisions and Split-Ups (McEowen)

The possible changes in the laws surrounding estate and business planning as well income tax planning may make it necessary for the planner to change the existing structure of a client's farming or ranching operation. This session examines the rules for a divisive reorganization, including the planning considerations when a lease is involved. Also addressed are the documentation requirements for a Type-D reorganization.

Noon-1:00 p.m. — Lunch (provided)

1:00-2:30 p.m. — Business Entity Use in Farm Succession Planning (Moore)

Business entities can be a valuable tool in farm succession planning. This session will examine the implications of C-Corporation and S-Corporation tax structures and the use of entities to capture the benefits of business valuation discounts. Additionally, several succession planning strategies using business entities will be discussed, including fair treatment of off-farm heirs, machinery and livestock holding, and protecting family farmland.

2:30-2:50 p.m. — Afternoon Break

2:50-3:45 p.m. — Property Law Issues Associated With the Intergenerational Transfer of the Farming/Ranching Operation (Merck)

This session takes a focused look at property law issues that the estate planner must address in the process of helping the farm/ranch client transfer the family business to the next generation. Many transactions in the transfer process involves property law that must be dealt with including easements; water rights; mineral rights; grazing rights; legal descriptions; and other similar matters. What are the key points a planner must know?

3:45-4:35 p.m. — Ethically Negotiating End of Life and Estate Issues (Leisinger) (1 hour ethics)

This program will involve a live initial short negotiation exercise based on a hypothetical end of life scenario between family members through counsel. We will address difficult concepts of the ethical limitations for attorneys and the bounds of planning for, and potentially trying to avoid or limit liability for, end of life expenses. We will discuss issues raised by the exercise and the difficulties related to advising families on these sort of real world issues within the rules attorneys are bound by. Issues touched upon will be who is the client, capacity issues, power of attorney for various purposes, sale of assets and recovery of assets for end of life medical care.

4:35 p.m. — Adjourn

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Short URL for this page:
https://washburnlaw.edu/farmandranchtaxaugust

Register and Pay Online

In-person attendance is limited to 75 individuals.

Dates / Location
Photograph: Hilton Garden Inn (Missoula, Montana).

Monday, August 2, 2021 and
Tuesday, August 3, 2021

Location (in-person attendees):
Hilton Garden Inn
3720 N Reserve St.
Missoula, MT
Get Directions and Maps

See below for lodging information.

Registration Fee

Credit-Seeking Attendees
Paid Through Sunday, July 25, 2021

» $425 both full days
» $290 Monday only
» $290 Tuesday only

Paid Monday, July 26, 2021 or After
» $475 both full days
» $315 Monday only
» $315 Tuesday only


Non-Credit Seeking Attendees
Paid Through Sunday, July 25, 2021

» $285 both full days
» $190 Monday only
» $190 Tuesday only

Paid Monday, July 26, 2021 and After
» $335 both full days
» $215 Monday only
» $215 Tuesday only

See registration form.
See Washburn W-9 (taxpayer ID)

Program fee includes materials in electronic form.

Registration Deadline:
Registrations will be accepted until all seats are full. Attendees must pay the registration fee prior to start of the program.

Program Materials in Hard Copy

All attendees will receive access to the program materials in electronic form. The link to the electronic materials will be sent via email no later than Friday, July 30, 2021.

Attendees (in person and online) who would like hard copy of the materials may purchase them for an additional $95 as indicated on the registration form.

In person attendees: if purchased, hard copy materials will be handed out at the seminar.

Online attendees: if purchased, hard copy materials will be mailed as soon as they are available. Please note that you may not receive hard copy materials until after the seminar.

Non-Attendees can purchase program materials:
» $95: Hard copy
» $50: Electronic format (PDF)
» $125: Hard copy and electronic

Hard copy materials will be mailed to non-attendees as soon as they are available but may not be received until after the seminar. A download link for electronic materials will be sent after payment is received.

Continuing Legal Education (CLE) Credit
  • Kansas: 16 hours (total for both days; 8 hours per day, including 1 hour ethics for 3:45 p.m. session on August 3) (Traditional and Online).
    YOU MUST PROVIDE YOUR CORRECT KANSAS BAR NUMBER FOR CREDIT TO BE REPORTED.
  • Other jurisdictions: all other attorney attendees will receive documentation and be responsible for submitting for credit in their home state.
CPE for IRS Practice Credit
Logo: Internal Revenue Service continuing education approved provider.
  • Continuing education credit for Enrolled Agents (EAs) and Other Tax Return Preparers (OTRPs) will be reported to the IRS by Washburn University School of Law, an IRS Approved Education Provider. YOU MUST PROVIDE YOUR CORRECT PTIN NUMBER FOR CREDIT TO BE REPORTED. The program is approved for EAs and OTRPs for 11 hours of Federal Tax Law and 6 hours of Federal Tax Update, for a total of 17 hours over both days. Day 1 is 8 hours of CPE (4 hours of tax law and 4 hours of tax update); day 2 is 9 hours of CPE (7 hours of tax law and 2 hours of tax update).
CPE for NON- IRS Practice (CPAs and Accountants) Credit
  • NOTE: Kansas CPAs may only receive credit for attendance in person. Washburn Law is in the process of applying for NASBA certification, this webinar is not NASBA approved so does not qualify/provide CPA credit for online attendance. NASBA certification is currently under review and anticipated in time for the conference. We will post on this page when we receive a final determination.
  • Online attendees in states other than Kansas will receive documentation and shall be responsible for confirming that credit will be granted in their home state and applying for that credit, if so. See the IRS CPE standards for types of hours provided in the program.
Information for Online Attendees

This CLE will be streamed via Zoom. There is no charge to use Zoom. The link to the program will be sent to online attendees via email.

Online attendance at this program falls under the Kansas Continuing Legal Education Commission's (KSCLE) "Live programming" definition; 12 CLE credit hours may be earned through online attendance each compliance period. See Rules and Guidelines and the FAQ at the Kansas Continuing Legal Education website for more information.

Nontraditional programming limitations may vary in other jurisdictions; it is the responsibility of the attendee seeking credit to verify any limitations.

Lodging and Dining

Attendees are responsible for making their own lodging arrangements. Continental breakfast, and lunch, are provided as part of the registration fee. Dinner is on-your-own.

A block of rooms is set up under Washburn University School of Law at a rate of $139 per night (plus state and local taxes and 8.0% lodging tax and $2.00 district fee per night). Rooms can be reserved at the group rate through Wednesday, June 30, 2021. The rate is valid from Friday, July 30 to Tuesday, August 3, 2021. Reservations requested after June 30 are subject to availability at the time of reservation.

To receive the group rate guests can reserve online through the Hilton website or call (406) 532-5300 and reference the room block.

Lists of other hotels, motels, and specialty lodging are on the Destination Montana website.

Cancellations

If you cannot attend the seminar, you may send a substitute. If you cancel your registration before midnight on Friday, July 30, 2021, your registration fee will be refunded. After that date, non-attending registrants will receive the course materials in electronic form and be subject to a $50 cancellation fee.

The sponsors reserve the right to cancel this seminar and return all fees.

Assistance for Special Needs and Other Questions

If you require special services or auxiliary aids to assist you while attending the event, please contact Shawn Leisinger, at shawn.leisinger@washburn.edu or (785) 670-2460.

Questions regarding registration or the program can be directed to Donna Vilander at Washburn Law at (785) 670-1105 or donna.vilander@washburn.edu.