How Does the New Tax Law Affect You?
Thursday, May 17, 2018, 9:00am – 12:00pm
Colquitt County Extension Office
Georgia farmers and landowners can learn more about how the new tax law affects them individually and their farming operation at tax bill workshops from University of Georgia Extension. After the training, farmers will be better equipped to navigate the new tax provisions.
The workshop will highlight estate tax changes, individual tax changes and business tax changes in the “Tax Cuts and Jobs Act.” The workshop will also include a review of schedule F and how to report income as well as some tax planning techniques.
Dr. Robert Tufts, an Alabama Extension farm management specialist emeritus and attorney, will conduct the workshops at 4 locations May 15-18 9 am – 12 p.m.
Registration Link: Colquitt County: https://attend.com/7392eecbe8fc17
Agenda
8:45 a.m. Registration
9:15 Estate tax changes in the “Tax Cuts and Jobs Act”- Exclusion amount, trust brackets, kiddie tax changes
9:25 Individual tax changes in the “Tax Cuts and Jobs Act”- Standard deduction, repeal of personal exemption, child tax credit and comparison of old and new
- tax brackets
- Capital gains
- Limit on state and local tax deductions
- Home debt
- Repeal of miscellaneous deductions
Qualified business income tax deduction
10:30 Break
10:45 Business tax changes in the “Tax Cuts and Jobs Act”
- Corporate tax rate
- Bonus depreciation and Section 179 expensing
- Farm property depreciation
- Excess loss limitation
- Limit on interest deduction
Repeal of Domestic Production Activities Deduction
11:15 Comparison of C-corporations taxes to sole proprietor, limited liability limited partnership and S corporation
12:00 Networking lunch
Additional tax workshop site links:
Carroll County: https://attend.com/713b987137bc05
Oglethorpe County: https://attend.com/6ac2309ff42836
Bulloch County: https://attend.com/feb7bef3a1beb7