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Employee and Employer Forms
Tell us about your deposit schedule and tax liability for this … whether you are a monthly schedule depositor or a semiweeklyschedule depositor, see Pub. 15
(Circular … liability. If you are a monthly schedule depositor, complete the deposit …
January 27, 2021
KFMA Research
January 26, 2021
Mark Dikeman – Kansas Farm Management Association, Associate Director (dikemanm@ksu.edu)
Kevin Herbel – Kansas Farm Management Association, Executive Director (kherbel@ksu.edu)
Jerry Pierce – Kentucky Farm Business Management, Program Coordinator
Tina Barrett – Nebraska Farm Business, Inc., Director
The Consolidated Appropriations Act (CAA), signed by the President on December 27, 2020 made several significant
changes to the Small Business Administration (SBA) Paycheck Protection Program (PPP) and the Employee Retention Credit
(ERC) which may be beneficial to Kansas agricultural producers.
First Draw PPP Loan Updates
Deductible Expenses – In 2020, the CARES Act established that if proceeds from PPP loans were used for qualified expenses,
the loan may be forgiven, and that the amount of loan forgiveness received was not to be included in taxable income.
However, the Internal Revenue Service (IRS) specified that expenses used to calculate loan forgiveness were not deductible.
In passing CAA, Congress reversed the IRS position and clarified that expenses used to determine PPP loan forgiveness are
deductible.
First Draw PPP Reauthorized – The original PPP loan program was reauthorized through March 31, 2021. This allowed
business owners that were not originally eligible, or chose not to apply for a loan, to apply for a First Draw PPP loan.
“Farmer” PPP – The original PPP loan amount was based on average monthly payroll costs. The term “payroll costs”
included both the cost of wages paid to employees and owner compensation based on net earnings from Form 1040
Schedule F. This meant that a …
June 19, 2023
Ag Law Issues
reported on the petitioner’s Schedule F under
“livestock activities.” … 2017, the petitioner’s Schedule F reported gross income of … 2018, the petitioner’s Schedule F reported gross
income …
November 13, 2020
Ag Law Issues
three possible IRS Forms: (1) Schedule F (Farm Income
and Expenses … Income and Expenses); and Schedule E. The appropriate Form
depends … receiving cash rent should file Schedule E to report the rental income …
September 4, 2017
Section 7: Interpreting Financial Statement Results
personal debt is added to the Scheduled term debt payments so, it … available after removing scheduled debt payments from Capital … debt payments against the scheduled principal and interest payments …
personal debt is added to the Scheduled term debt payments so, it … available after removing scheduled debt payments from Capital … debt payments against the scheduled principal and interest payments …
December 31, 2024
Ag Law Issues
upon the court's published schedule.
Stay tuned …
May 1, 2023
Ag Law Issues
deduction that is reported on Schedule C (Form 1040), line 30, orSchedule F (Form 1040),
line 32 … that itemize deductions on Schedule A, the personal part of the … mortgage interest is reported on Schedule A, line 8a or 8b and the …
April 13, 2020
Ag Law Issues
individual filed or will file a Schedule C for 2019.
Note: While … the issue only refers to Schedule C businesses, it seems that … businesses, it seems that
“Schedule F” should be able to be …
October 21, 2020
2020 K-State Crop Insurance Workshop Presentations
Initial guidance referred to Schedule C, leaving many questions … Verification that a positive Schedule F in 2019 is considered a … employees and a negative Schedule F was not eligibleo Tax Cuts …