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

Join an expert panel from CLA for an in-depth discussion on Section 174 capitalization requirements. Designed specifically for cooperatives, this session will provide guidance on identifying and capturing Specified Research and Experimentation costs that must be capitalized. The presentation will feature clear, illustrative examples to enhance understanding and will also delve into opportunities for R&D tax credits and the latest legislative updates related to Section 174.

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.