Farm Filings Tax Series
With tax day fast approaching, it’s time to dust off the old calculator and hit the books!
We recognize that taxes can be intimidating. That’s even more true this year with all of the relief programs rolled out by congress and the many changes farm businesses made to their sales channels. But, don’t worry, we’re here to help! In partnership with the Routes to Farm Alliance, we are pleased to offer a three-part online series to help you understand what you need to get your taxes filed.
Join expert tax and accounting professionals from Compeer Financial to learn about the importance of good record-keeping as well as tax issues impacting agricultural producers, including depreciation of farm assets, special use valuation, self-employment taxes, COVID-19 relief for agricultural businesses, and more!
Tuesday, March 9 | 8:00 am CT
The Importance of Record-Keeping
– Assess your farm financials
– Business structures
– Managing payroll
Tuesday, March 23 | 8:00 am CT
– Tax changes for FY2020
– Relief program tax implications (including CARES Act, PPP, and EIDL)
This online series is intended to help farmers and ranchers learn about taxes. The content is for educational purposes only and does not constitute tax advice.
Looking for tax resources now? Check these out!
Iowa State University Center for Agricultural Law and Taxation, https://www.calt.iastate.edu/
Internal Revenue Service, https://www.irs.gov/
IRS Publication 225 Farmer’s Tax Guide, https://www.irs.gov/pub/irs-pdf/p225.pdf