The seminar will review the fundamentals that tax preparers should be aware of when serving agricultural tax clients. Common agricultural business activities, situations that involve non-farm income, and considerations of filing agricultural taxes under legal business structures will be covered. This is intended for tax preparers and other business consulting specialists who want to improve their ability to serve farmers in preparing farm tax returns and offering business advice. Learning Objectives Understand what’s a farm and who’s a farmer for IRS income tax reporting. Become familiar with common farm business issues to address when filing farm tax returns. Being able to differentiate between farm and nonfarm business activities and implications for reporting. Become aware of issues to consider when forming and preparing tax returns for a farm operating through a legal business structure other than a sole proprietorship.

How To Register: Registration link provided soon.

Topics: Farm Tax Issues & Tax Planning, 1099s, Schedule F, Ag Finance and Record Keeping