Income Tax Management for Agricultural Producers Program Is Dec. 2

A tax management program will be offered to producers and tax preparers from 9 a.m. to noon CST on Wednesday, Dec. 2, at 12 interactive video sites in North Dakota.

The program, sponsored by the North Dakota State University Extension Service and Internal Revenue Service, will feature presentations by Ann Makres, IRS; Steve Eckroth, Eide Bailly, Bismarck; Brenda Laub, CPA, Valley City; Steve Troyer, Eide Bailly, Fargo; Terry Knoepfle, NDSU Department of Accounting and Information Services; and Joseph Becker, office of the North Dakota state tax commissioner, Bismarck.

The experts will provide federal and state income tax updates.

Topics include:

• Depreciation rules and associated tax strategies
• Taxation of federal farm benefits
• Highlights of the 2009 Stimulus Package, including making work pay credit
• American opportunity education credit
• Bonus and Sec 179 deductions
• Energy credits
• First-time homebuyer credit provisions
• Update on estate and gift taxes
• New estate basis rules

A segment will cover provisions of the National Disaster Relief Act, which offers federal tax relief for presidentially declared disasters for individuals and businesses.

The North Dakota tax update provides a rundown of the income tax legislation passed by the 2009 Legislature. The presentation will highlight some of the more important bills that affect a 2009 income tax return.

Four question-and-answer periods are scheduled during the three-hour program. Preregistration is required because seating is limited. The cost for the program and materials is $12.

Interactive video sites for the program are at Bismarck State College and Burleigh County Extension office, Bismarck; Armory meeting room, Devils Lake; Arntzen Building, Dakota College, Bottineau; Dickinson State University, Dickinson; NDSU, Fargo; University of North Dakota, Grand Forks; James Valley Career and Technology Center, Jamestown; North Dakota State College of Science, Wahpeton; Williams County Courthouse, Williston; and NDSU Research Extension Centers in Minot and Langdon.

For additional information or registration, call the NDSU Extension Service in Fargo at (701) 231-8642.

NDSU Agriculture Communication