Date : November 13th , 2026

Time: 2pm ET | 1pm CT | 12m MT | 11am PT

Duration: 120 Minutes

Description:

Agricultural taxpayers face a distinct set of federal tax rules that can make year-end planning particularly challenging. Decisions involving accounting methods, income recognition, prepaid farm supplies, inventory treatment, depreciation elections, and farm income averaging can significantly affect taxable income over multiple years.

This course examines the federal tax framework applicable to farmers, including cash, accrual, and hybrid accounting methods; farm income and deductible expense categories; prepaid supply limitations; agricultural inventory considerations; MACRS depreciation; the newly expanded Section 179 expensing and permanent 100% bonus depreciation rules; and the tax treatment of farm asset dispositions. It also explains IRC Section 1301 farm income averaging and how Schedule J can be used to evaluate whether allocating elected farm income to prior base years produces a real tax benefit  a strategy that matters more than ever as accelerated depreciation elections can create sharp income swings that averaging is designed to smooth.

Learning Objectives:

• Differentiate cash, accrual, and hybrid accounting methods used by agricultural businesses, and assess how each choice shifts income and deduction timing across tax years.
• Identify major categories of taxable farm income, deductible expenses, prepaid farm supplies, and agricultural inventory items under federal tax rules.
• Apply MACRS recovery periods and depreciation conventions to common agricultural assets, including equipment, buildings, and specified plants.
• Evaluate Section 179 expensing and bonus depreciation  now permanently set at 100% under the One Big Beautiful Bill Act (OBBBA) for qualifying property acquired and placed   as part of a coordinated, multi-year farm tax strategy.
• Analyze the tax treatment of farm asset dispositions, including Section 1231 treatment and depreciation recapture considerations.
• Evaluate IRC Section 1301 farm income averaging and determine when Schedule J may reduce a farmer’s overall tax burden by spreading elected farm income across three prior base years.

Topics Covered:

• Federal tax rules and accounting methods for farmers.
• Farm income recognition, deductions, and prepaid supplies.
• Agricultural inventory and year-end tax considerations.
• MACRS, Section 179, and the OBBBA’s permanent 100% bonus depreciation.
• Farm asset dispositions and depreciation recapture.
• IRC Section 1301 farm income averaging and multi-year planning

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 120 minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Gregory Holzel, CPA, MBA

Gregory is a CPA with strong expertise in financial analysis, auditing, and budgeting, and the founder of GT Financials PLLC, a Pennsylvania-based firm serving small businesses with tailored accounting and financial advisory services. He brings a blend of academic excellence and hands-on audit experience to his work with clients and to his role as an instructor. Gregory developed his audit foundation at S.R. Snodgrass, P.C. in King of Prussia, PA, serving as a Senior Auditor from 2021 to 2023. In that role, he audited financial statements and provided assurance services for financial institutions and employee benefit plans, prepared detailed audit work papers, documented test procedures and findings, and drafted reports for management review. This experience gave him deep exposure to financial reporting, internal controls, and regulatory requirements across complex entities.