Tax Strategies for Midwestern Farm and Ranch Women

Class 1 – Introduction 

Basic tax information: What are income taxes? What are income tax brackets?
Who qualifies as a Farm for tax reporting purposes?
What is a schedule F?
Cash vs. Accrual Accounting
Tax Documentation

Class 2 – Schedule F Basics  

How do you choose an accountant?
What are common farm and ranch deductions?
What other non-farm from/for AGI deductions should farmers and ranchers consider?
 

Class 3 – Advanced Topics 

1099s
Tax Strategies
Shifting income (pre-paid expenses, deferred payment contracts)
Accelerated depreciation
Income Averaging
Loan forgiveness

This material is based upon work supported by the U.S. Department of Agriculture, under agreement number FSA22CPT0012189.