By Scout Nelson
Nebraska Extension will host an "Introduction to Schedule F, Tax Planning for Farms and Ranches" workshop on Thursday, September 19, from 5:30 to 7:30 p.m. The event will take place at the Panhandle Research Extension and Education Center in Scottsbluff, located at 4502 Avenue I.
Jessica Groskopf, Extension Educator, explains the purpose of the workshop: “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.”
The workshop will focus on key topics such as:
- Basic tax information, including what income taxes are and how tax brackets work
- Understanding who qualifies as a farm for tax reporting purposes
- Explanation of Schedule F
- Cash vs. accrual accounting methods
- Tax documentation requirements
The workshop is designed to help producers understand the essentials of tax reporting, equipping them with knowledge to better manage their financial responsibilities. Whether you’re new to farming or need a refresher, this workshop will provide useful insights into tax planning for agricultural businesses.
Photo Credit: pexels-nataliya-vaitkevich
Categories: Nebraska, Business, General, Government & Policy