Free Tax Planning Workshops for Ag Producers in Nebraska

By Scout Nelson

Nebraska Extension is providing valuable resources for agricultural producers and professionals with free tax planning workshops in Scottsbluff and Kimball. These workshops aim to assist farmers and ranchers in understanding Schedule F and essential income tax principles.

The Scottsbluff workshop is scheduled for November 8 from 1:00 to 2:30 p.m. and will be held at the Lied Scottsbluff Public Library, 1809 3rd Avenue. To register, please contact the Panhandle Research and Extension Center at 308-632-1230.

In Kimball, the workshop will take place on November 9, also from 1:00 to 2:30 p.m., at the Kimball County 4-H Building, 499 S. High School St. You can register by calling Nebraska Extension in Kimball County at 308-235-3122.

The workshops will cover fundamental tax information, including income tax and tax brackets, farm qualifications for tax reporting, details about Schedule F, cash versus accrual accounting, and tax documentation. These topics are particularly relevant for new and beginning producers who often have questions about tax planning for their agricultural businesses.

Jessica Groskopf, a Nebraska Extension Educator based in Scottsbluff, highlights the importance of these workshops, stating, “Farmers and ranchers, especially new and beginning producers, often have questions about tax planning for their business. This workshop will provide you with the basic information you need when filing a Schedule F.”

These workshops are part of "Ag SmartMoney Week," a series of educational events aimed at equipping agricultural producers in Nebraska with the knowledge and tools to enhance their operations. The week includes webinars and workshops covering various aspects of risk management, estate and transition planning, land leasing, human resources, and technology. The event is presented by Nebraska Extension, UNL’s Center for Agricultural Profitability, and the Nebraska College of Technical Agriculture in collaboration with businesses, financial institutions, nonprofits, and government agencies. For more information, visit https://cap.unl.edu/smartmoney.

Don't miss this opportunity to enhance your tax planning knowledge and improve your agricultural operations. Register for these informative workshops and take a step towards better financial management in your farming or ranching business.

Photo Credit: nebraska-extenstion