November 10, 2005

Tax Program for Farmers Scheduled for Nov. 29

A "Tax Management for Ag Producers" program will be offered to producers and tax preparers from 1 to 4 p.m. on Tuesday, Nov. 29, at 11 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 agent, Fargo; Steve Eckroth, Eide Bailly, Bismarck; Brenda Laub, Farm Credit Services, Valley City; Steve Troyer, Eide Bailly, Fargo; and Terry Knoepfle, Department of Accounting and Information Systems, NDSU, Fargo.

Experts will provide information on:

• Tax updates, farm income averaging and section 1031 like-kind exchanges
• Health costs and tax implications of sections 105 and 125, health savings accounts and health reimbursement arrangements
• The new Individual 401(k) plan and why it’s attractive to farmers
• How to maximize the production deduction for producers
• IRS audit priorities and other issues
• Selected issues on farm transition

Four question-and-answer periods are scheduled during the three-hour program.

Pre-registration is required because seating is limited. The cost for the program and materials is $10.

The interactive video sites for the program are at:

Bismarck State College
Memorial Building, Devils Lake
Arntzen Building, Minot State University Bottineau
Dickinson State University
NDSU
University of North Dakota, Grand Forks
State Hospital, Jamestown
North Dakota State College of Science, Wahpeton
NDSU Research Extension Centers in Langdon, Minot and Williston

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

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Source: Andrew Swenson, (701) 231-7379, aswenson@ndsuext.nodak.edu
Editor: Rich Mattern, (701) 231-6136, richard.mattern@ndsu.edu

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