Handling Coop Net Operating Losses

CPE: 1 Credit Hour
Field of Study: Taxes

Your cooperative has a Net Operating Loss, now what? Join us for this 60-minute zoom to 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.