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Virginia Cooperative Extension -
 Knowledge for the CommonWealth

2000 Income Tax Conference - Ten Virginia Locations

Farm Business Management Update, October 2000

By L. Leon Geyer

The Virginia Tech Income Tax Conferences are scheduled at ten Virginia locations this year. The conferences will occur in November and December 2000. They feature an intensive study of tax law and regulations governing individual, farm, and small business taxes. They are designed for persons with income tax experience who assist taxpayers in preparing and filing income tax returns. Preparation of both federal and state taxes will be covered. The table that follows gives the schedule for general sessions and special sessions on farm and forestry taxation.

This is the fortieth year that Virginia Cooperative Extension, Virginia Tech's Department of Agricultural and Applied Economics, the Virginia Department of Taxation, and the US Internal Revenue Service (IRS) have cooperated in bringing this program to the people who assist taxpayers in preparing and filing federal and state income tax returns. This conference is Virginia's largest workshop for tax practitioners.

Faculty from Virginia Tech, staff from the IRS, private tax practitioners, and the Virginia Department of Taxation will examine new tax laws and their implications and will examine case studies to interpret new regulations. Topics for the major program will include recent rulings and cases, individual taxpayer issues, small business issues, electronic filing, new tax legislation, sale of a business, form 1099 issues, issues for older taxpayers, retirement, divorce, loss limitations, investments, depreciation, compliance, gifting, death of a taxpayer, business entities, ethics, and much more.

Brochures for the conferences have been mailed to tax practitioners, CPAs, lawyers, Commissioners of Revenue, and other past attendees. Brochures are also available in Extension Unit and District Offices. Registration forms can be duplicated, or you may contact Brenda Chandler by phone: (540) 231-7936, fax: (540) 231-7417, or email: for further information. Our web site ( includes all conference information and an online registration form that can also be printed to mail or fax.

Special farm and forestry tax workshops are available to registered participants. Farm sessions take place from 5 - 7 p.m. at selected locations (see schedule). Virginia Tech agricultural lawyer, Leon Geyer, teaches the farm tax workshops. He will address self-employment taxes, CRP payments, rental of real property, income averaging issues, sale of farm real estate, like-kind exchanges of conservation easements, leasing of buildings and equipment, phase I & II tobacco payments, charitable contribution of commodities, depreciation recapture on tractor received as gift, and a summary of depreciable lives of unusual farm assets.

Harry Haney, Virginia Tech's Garland Gray Professor of Forestry, will conduct the forestry workshops from 5 - 7 p.m. at selected locations (see schedule). He will cover what drives a forestry investment, capital investment expenditures, capital expenditure recovery, operating and management expenses, taxation of timber sale income, cost-share incentive payments, like-kind exchanges, and casualties and involuntary conversions.

The tax conference general sessions will run each day from 8:30 a.m. until 4:45 p.m. Pre-registration and pre-payment are required. The registration fee includes a textbook, reference material, refreshment breaks, two luncheons, the farm and forestry workshops, and the What's New tax update that is mailed in January. Lodging is not included. The 600+ page Income Tax textbook is a comprehensive study manual used in more than 45 states. It is written and reviewed by CPAs, tax attorneys, IRS agents, and tax practitioners.

Please contact the Income Tax Conference Registrar, at the Continuing Education Center, phone (540) 231-2008, fax (540) 231-3306 or e-mail for registration information.

2000 Virginia Tech Income Tax Conference Dates and Locations

Conference Dates and LocationsFarm Dates and LocationsForestry Dates and Locations
November 6-7 - Richmond I **
November 9-10 - Staunton * **
November 13-14 - Lynchburg
November 15-16 - Roanoke
November 20-21- Bristol
November 27-28 - Dulles **
November 29-30 - Fredericksburg
December 4-5 - Williamsburg
December 6-7 - Virginia Beach
December 11-12 - Richmond II
November 6 - Richmond I
November 9 - Staunton
November 13 - Lynchburg
November 15 - Roanoke
November 20 - Bristol
November 29 - Fredericksburg
December 4 - Williamsburg
December 6 - Virginia Beach
November 14 - Lynchburg
November 27 - Dulles
December 11 - Richmond II

* Thursday - Friday
** New Hotel Location

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