Handling Coop Net Operating Losses

Date: Wednesday, November 16, 2022
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenter: Bryanna L. Fredericks, CPA, Senior Manager, Herbein + Company, Inc.
Moderator: Wayne Sine, CPA, MBA, Director of Education, National Society of Accountants for Cooperatives
Learning Objectives:
- Explore options for handling coop net operating losses – assessing the members versus retaining and utilizing at the coop level – including practical examples.
- Examine the interplay of net operating loss deduction limitations (Section 382, 80% of taxable income) with other deductions – Section 163(j) interest expense limitation; Section 199A(g) domestic production activities deduction; charitable contributions limitations, etc.
- Survey the state landscape regarding the treatment of net operating loss carryforwards, including limitations and expirations.
Field of Study: Taxes
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
  Order Recording

Course Description

This session will explore options for handling coop net operating losses – assessing the members versus retaining and utilizing at the coop level – including practical examples. We’ll examine the interplay of net operating loss deduction limitations (Section 382, 80% of taxable income) with other deductions – Section 163(j) interest expense limitation; Section 199A(g) domestic production activities deduction; charitable contributions limitations, etc. And finally, we will survey the state landscape regarding the treatment of net operating loss carryforwards, including limitations and expirations.

Presenter and Moderator Bios

Presenter: Bryanna L. Fredericks, CPA, Senior Manager, Herbein + Company, Inc.

Bryanna L. Fredericks, CPA began her career with Herbein + Company in 2007 and is a Senior Manager in the firm's tax department. Bryanna provides federal and multi-state tax compliance and planning services for many of the firm’s major business clients. As Herbein + Company’s client base in the cooperative arena has expanded, Bryanna has focused much of her work in assisting those clients with tax compliance and planning strategies, as well as financial statement tax accrual computations and disclosures. Bryanna is a member of the NSAC national tax committee and has served as President of the NSAC Atlantic Chapter. Outside of the office, Bryanna enjoys spending time with her husband Bill and two children Elias and Claire. She loves the outdoors – camping with family, going to the beach, or skiing, depending on the time of year.

Moderator: Wayne Sine, CPA, MBA, Director of Education, National Society of Accountants for Cooperatives

Wayne Sine is an experienced and highly knowledgeable professional in the field of Tax. Wayne recently retired as Tax Director from his company, Southern States Cooperative. He has extensive experience working with agricultural cooperatives and has been a long-time member of the NSAC. He is extremely active in the NSAC, serving as both past Chapter President of the Atlantic Chapter, and past Chair of the Tax Committee, and is currently serving as the NSAC Director of Education. Wayne's career is marked by several accomplishments, and he has always been involved in many organizations, spreading his knowledge. Wayne is a member of the Legal, Tax, and Accounting (LTA) Committee for the National Council of Farmer Cooperatives. He is also Past Chair of both the Tax Committee of the Virginia Chamber of Commerce and the Virginia Manufacturers Association. Wayne also served on the Tax Policy Committee at the Virginia Society of CPAs and served as past Region Vice President for the Tax Executives Institute. 

Cost
Free for NSAC Members / $56.00 for Non-Members

Delivery System

• All programs are delivered using the Zoom platform.
• Confirmations will include log-in instructions.
• Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
• All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
• There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.