As I mentioned in my last post, tax reform will be an issue to watch in 2018. The legislation enacted in late 2017 has many agricultural producers, attorneys, accountants and other industry professionals quickly working to learn about potential impacts on agricultural producers and businesses.

For those of you interested in learning more about tax reform and implications for the agricultural industry, mark your calendars now for January 30 and register for the upcoming teleforum: “The Tax Cuts and Jobs Act: Reviewing Key Provisions Impacting Agricultural Producers”.

Presented by the American Agricultural Law Association, the premier association for agricultural law and policy professionals, and Iowa State University’s Center for Agricultural Law & Taxation, this two hour teleform is open to both AALA members and nonmembers.  AALA’s mission is to “inform and engage the law and policy professionals who serve all facets of the agricultural and food communities.” As part of that mission, AALA offers periodic educational opportunities, like this teleforum, that are open to all.

This two-hour teleforum includes a panel of experts from across the country, with a discussion focusing on key provisions of the new tax law impacting agricultural producers and businesses. In addition to discussing generally applicable sections, it will address the 199A deduction and its potential application to different types of income, including income derived from farm rentals and payments from cooperatives. Other topics will include potential individual income tax changes to producers, impacts on estate planning and basis after death, and changes related to depreciation and like-kind exchanges. The forum will also highlight several ambiguities in the law, noting the need for further regulatory guidance.

You can learn more about this upcoming teleforum and register by visiting the AALA website. Again, this is a free teleforum, open to members and non-members.  However, if you are a non-member involved in the agricultural or food law/policy realm, take a moment to check out the association, its benefits, and consider joining!

I have the privilege of serving as the current president of AALA and have been a member since I was a first-year law student, which has been over 15 years now. Drake has a long history of involvement and leadership in AALA.  AALA is comprised of a wonderful group of professionals that are knowledgeable, dedicated, and as friendly and welcoming as you will ever find.  I am passionate about this organization, its people, and all the work our members do across the country (and world), in all facets of food and agriculture.  If you have questions about AALA, please do not hesitate to reach out to me or visit the AALA website to learn more.

 

Upcoming Teleforum on Tax Reform and Impacts on Agricultural Producers
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