Bylaws and Patronage Allocations and Issues Presented by Teree Castanias, CPA and Mike McIntyre, CPA

Date: Thursday, January 12, 2012
Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenters: Teree Castanias, CPA and, Mike McIntyre, CPA
Moderator:
Learning Objectives:
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Field of Study: Accounting
Program Level: Basic
CPE Credit: 1.5 Credit Hours
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
  Order Recording

Course Description

This presentation will cover bylaw provisions that may support or conflict with tax positions taken or desired to be taken by a cooperative. Bylaw wording is an area of documentation that is often neglected or ignored and that could benefit operations and support board decisions with tax implications if kept up to date. Areas of discussion will include bylaw considerations for equity situations resulting from new merger accounting requirements, implications for changing from tax to book basis patronage allocations, establishing look back periods for distributing asset sale net proceeds and upon dissolution and other issues with tax implications involving bylaw wording. *** This is a 90 minute course and will provide 1.5 CPE Units.

Presenter and Moderator Bios

Presenter: Teree Castanias, CPA and

Teree Castanias, CPA has a tax compliance and consulting practice focused on cooperative issues and other business and individual tax matters. She has provided tax consulting, compliance and tax provision services to many businesses, including cooperatives and non-cooperative enterprises in food production, manufacturing, distribution and retail, rural electric and telephone, Farm Credit System agricultural lending, banking and financial services. Teree has had a broad range of experience with all types of cooperatives and non-cooperative businesses, including sole proprietorships, partnerships, limited liability companies, C and S corporations. She has also worked extensively with individuals, providing assistance in income tax, retirement, estate and gift, and financial planning. Teree also works with clients in equine related businesses. Teree’s professional accounting experience has spanned over 32 years Mike is an attorney and certified public accountant. He is currently practicing through his own firm in Okemos, Michigan, providing legal, consulting, tax and accounting services primarily to cooperatives along with other private businesses and individuals. He has worked with cooperatives for 40 years. His cooperative clients are located in Michigan as well as in other states around the country. Mike serves as a consultant on entity structure, co-op formation and cooperative director training for the Michigan State University Product Center, which carries out economic development programs involving agriculture and natural resources. He has also provided similar services in past years to the Rutgers University Food Innovation Center. Mike serves as a consultant on cooperative tax matters to other professional firms.

Presenter: Mike McIntyre, CPA

Cost
$56.00 for NSAC Members / $70.00 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.