Cooperatives and R&D: Understanding Section 174 Capitalization and Tax Credits

Date: Thursday, February 6, 2025
Time: 12:00 PM ET / 11:00 AM CT / 10:00 AM MT / 09:00 AM PT [Prevailing Time]
Presenters: Rebecca Thoune, CPA, Signing Director, CliftonLarsonAllen LLP (CLA), Virginia Viet, CPA, Principal, CliftonLarsonAllen LLP (CLA), Eric Zeitler, Manager - Wisconsin R&D Practice Leader, CliftonLarsonAllen LLP (CLA)
Moderator: Wayne Sine, CPA, MBA, Director of Education, National Society of Accountant for Cooperatives (NSAC)
Learning Objectives:
1. Understand the Key Provisions of Sec. 174
2. Implement Best Practices for Compliance
3. Maximize potential R&D Tax Credits and Stay Updated on Pending Legislation
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.

Course Description

A discussion of Section 174 Capitalization requirements to help cooperatives determine how to capture the Specified Research and Experimentation costs that must be capitalized. The presentation will include illustrative examples. R&D credit opportunities and the current legislative outlook for Section 174 will also be covered.

Presenter and Moderator Bios

Presenter: Rebecca Thoune, CPA, Signing Director, CliftonLarsonAllen LLP (CLA)

Rebecca Thoune has an extensive background providing tax planning and compliance for privately held companies, serving primarily cooperatives and the agribusiness industry. She works with clients on federal and state strategic tax planning, equity planning and management, maximizing cooperative and patron benefits, business structure consulting, and provides representation before the IRS and other state taxing authorities. Rebecca has 23+ years of tax experience in public accounting and has held various tax leadership roles throughout her career. Rebecca has spoken to various local and national organizations on technical tax topics such as the principles of cooperative taxation, tax planning and reform, equity management, COVID relief including PPP loans & forgiveness, and various state tax matters. Rebecca serves as the cooperative national tax director for CliftonLarsonAllen LLP.

Presenter: Virginia Viet, CPA, Principal, CliftonLarsonAllen LLP (CLA)

Ginny Veit leads the R&D Tax Credit Practice on the Federal Tax Strategies team at CLA with a career spanning over 25 years. She specializes in the research and development tax credit, cost segregation projects, and other specialty tax services. Ginny started her career with a Big Four firm and spent 11 years in industry so she understands clients’ perspectives.

Certifications
▪ Research & Development Tax Credit Fixed Assets / Cost Segregation Studies
▪ Manufacturing & Distribution Industry
▪ Technology & Software Industry
▪ Aerospace & Defense Industry

Education and professional involvement Services
▪ Bachelor of science in accounting from the University of Florida, Gainesville, Florida
▪ Master of accounting from the University of Florida, Gainesville, Florida
▪ American Institute of Certified Public Accountants
▪ Certified Public Accountant in Florida
▪ Florida Institute of Certified Public Accountants

Civic organizations
▪ The Junior League of Tampa, Past Treasurer, Sustaining Member
▪ Greater Tampa Chamber of Commerce, Member
▪ Leadership Tampa Alumni
▪ Children’s Home Society of Florida, Suncoast Council Advisory Board
▪ LifeChoices Family Medical, Board of Directors

Presenter: Eric Zeitler, Manager - Wisconsin R&D Practice Leader, CliftonLarsonAllen LLP (CLA)

Eric Zietler, Manager,Wisconsin R&D Practice Leader at CLA, is a graduate of Wisconsin Lutheran College in Milwaukee, WI. Eric has ten years of experience in public accounting. Leveraging his experience in tax compliance, Eric specializes in assisting companies with a range of tax strategies. Eric is a member of the firm wide Federal Tax Strategies (FTS) group and leads the Wisconsin regional practice. Eric is involved with providing direction and education for the FTS team to ensure clients receive the quality services they expect and deserve. Eric enjoys staying informed on tax and case law to take the right actions for his clients.

Moderator: Wayne Sine, CPA, MBA, Director of Education, National Society of Accountant for Cooperatives (NSAC)

After retiring as Tax Director for Southern States Cooperative, Wayne Sine was asked to serve as Education Director for NSAC. He has been a long-time and active member of NSAC, having served as past President of the Atlantic Chapter and past Chair of the Tax Committee. In addition to his work with NSAC, Wayne has served on the Legal, Tax, and Accounting (LTA) Committee of the National Council of Farmer Cooperatives, Chaired the Tax Committees for both the Virginia Chamber of Commerce and the Virginia Manufacturers Association, served on the Tax Policy Committee of 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

  Online Registration

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.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#103068) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

Ideal for multiple attendees.
Use a speakerphone and projector/monitor and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.