September Seminars - Agricultural Law Seminar & Farm Tax Workshop In-Person & Webinar

The 2024 September Seminars will add value to your practice as we dig deep into key laws and rules significantly affecting your agricultural clients.

Join us after the last session on Tuesday, September 17, for a networking reception hosted by the Iowa Farm Bureau Federation.
Everyone who attends the Farm Tax Workshop will receive a copy of the 2024 Agricultural Tax Issues workbook. Those attending online will receive the book by mail after the event. They will have access to the electronic version before the class begins.
View the 2024 September Seminars brochure here!

Agenda:

Agricultural Law Seminar:

7:45 A.M.	Registration/Sign-in
8:30 A.M.	Economic Update Chad Hart and Rabail Chandio, Iowa State University
9:20 A.M.	Tips from the Trenches: Partition Actions and More Pat Dillon, Dillon Law PC
10:20 A.M.	Break
10:35 A.M.	Title Examination Considerations for the Rural Practitioner Tim Gartin, Hastings and Gartin
11:35 P.M.	Lunch
12:20 P.M.	Artificial Intelligence in Law Practice: Navigating the Ethical Landscape Ellen Murphy, Wake Forest University School of Law
1:20 P.M.	Transition Planning in the Face of Uncertainty Mark Gray, Mark Gray Law, PLC
2:20 P.M.	Break
2:35 P.M.	Farm Financial Distress and Foreclosure Considerations Abram Carls, Simmons Perrine Moyer Bergman PLC
3:35 P.M.	2024 Agricultural Law Update Jennifer Harrington and Kristine Tidgren, Center for Agricultural Law & Taxation
4:30 P.M.	Wrap-Up/Sign-out
4:45 P.M.	Join us for a reception sponsored by the Iowa Farm Bureau. It’s a great opportunity to catch up with colleagues and meet others serving agricultural clients.

Farm Tax Workshop:

The Farm Tax Workshop prepares tax professionals to tackle the tax provisions relevant to agricultural producers and landowners in 2024. All attendees, in person and online, will receive a copy of the 2024 Agricultural Tax Issues workbook,a 300- page resource. The class will begin at 8:30 am and end at 4:30 pm. Lunch break is from 12:00 to 12:50. The course is taught by Kristine Tidgren and Jennifer Harrington. We will cover the following topics from the workbook:

8:30 am - 10:30 am

New Legislation and Guidance

This chapter reviews new guidance and legislative developments. Included in the discussion is an update on beneficial ownership information reporting requirements, planning for the 2025 Tax Cuts & Jobs Act Sunset, and new regulations impacting farm employees. This chapter also reviews several key court decisions from 2024.

10:30 am - 10:45 am

BREAK

10:45 am - 12:00 pm

Section 179 and other Cost Recovery Methods

This chapter provides an in-depth review of the I.R.C. § 179 expense method deduction. It also reviews the 2024 rules for depreciating and expensing vehicles, as well as the 2024 rules for depreciation, including additional first-year depreciation

12:00 - 12:50 pm

LUNCH

12:50 pm - 2:15 pm

Section 179 and other Cost Recovery Methods, Cont.

Climate Smart and Conservation Tax Issues for Agricultural Producers

This chapter reviews tax-related incentives for farmers implementing “climate smart” agricultural practices. It covers related Inflation Reduction Act credits, and applicable conservation tax provisions.

2:15 pm - 2:30 pm

BREAK

2:30 pm - 3:30 pm

Disaster Tax Issues

This chapter provides an in-depth review of disaster tax provisions, including calculating casualty gains and losses for the loss of farm property, deferral of gain for involuntary conversions of property, including livestock, and the tax rules for demolitions and repairs.

3:30 pm - 4:30 pm

Ethics for the Tax Professional

This session will cover due diligence and cybersecurity matters important to rural practitioners. These ethical duties protect clients and the practice of a professional.

The workbook also contains the following chapters (we will cover some of this material at tax school in November and December):

Timely Agricultural Tax Topics.

This chapter discusses current issues for tax practitioners preparing returns for farmers and ranchers, including taxation of wineries and breweries, farm and ranch tax elections, the taxation of easements, and qualified conservation easement contributions.

Retirement Issues for Farmers

This chapter provides a review of social security considerations for farmers, as well as a discussion of retirement plan options.

Lease v. Purchase Tax Rules

This chapter reviews the distinction between leases and purchases and the tax treatment of capital leases. Included in the discussion are

Selling and Trading Farm Property

This chapter reviews the rules for reporting the sale and exchange of farm property.

Sample Return

The sample return includes a Form 1040, Schedule F, Form 4797, Form 4562, and other supporting forms and schedules. It illustrates how to report income and expenses common to agricultural producers.

Continuing Education:

	Ag Law In-Person	Ag Law Webinar	Farm Tax Workshop In-Person	Farm Tax Workshop Webinar
Real Estate	8 hours Course # 236-6855-Elective	8 hours Course # 236-6855-Elective	8 hours Course # 236-6856-Elective	8 hours Course # 236-6856-Elective
CLE	6.75 hours	6.75 hours	6.75 hours	6.75 hours
Ethics	1 hour	1 hour	1 hour	1 hour
Insurance	7 hours general, 1 hour ethics	7 hours general, 1 hour ethics	7 hours general, 1 hour ethics	7 hours general, 1 hour ethics
IRS	---	---	Y7WRM-U-00377-24-I Updates (1 credit) Y7WRM-T-00378-24-I Tax Topics (6 credits) Y7WRM-E-00376-24-I Ethics (1 credit)	Y7WRM-U-00377-24-O Updates (1 credit) Y7WRM-T-00378-24-O Tax Topics (6 credits) Y7WRM-E-00376-24-O Ethics (1 credit)

*We will update the list as we get more approvals*

Thank You to our Sponsors!
	Iowa State Bar Association
	Iowa Farm Bureau

Speakers:

	Abram Carls Simmons Perrine Moyer Bergman, PLC
	Rabail Chandio Iowa State University
	Pat Dillon Dillon Law, PC
	Tim Gartin Hastings and Gartin
	Mark Gray Mark Gray Law, PLC
	Chad Hart Iowa State University
	Jennifer Harrington Center for Agricultural Law & Taxation
	Ellen Murphy Wake Forest University School of Law
	Kristine Tidgren Director Center for Agricultural Law & Taxation