1-18 IAN Taxes and Farms

USDA’s Risk Management Agency announces the availability of a newly created website titled: Rural Tax Education  As we all know, you can’t out run the taxman and tax deadlines always loom, particularly at this time of the year. Farmers and ranchers don’t have enough to do? Thinking about planting or raising livestock, inputs, commodity prices, dairy prices, beef prices, weather concerns… and they have to worry about taxes too? Well the good news is you don’t have to call H&R Block. The USDA Risk Management Agency  has created a Rural Tax Education Program. There is a newly created website titled: Rural Tax Education (ruraltax.org) providing farmers and ranchers a resource for agricultural related income and self-employment tax information that is both up-to-date and easy to understand.

The USDA’s Risk Management spokesperson Jo Lynne Seufer  told me the following: “Farmers and ranchers wanting up-to-date tax information will want to put the Rural Tax Education website in their list of browser favorites. The website recently added  “Tax Guide for Owners and Operators of Small and Medium Size Farms” and offers several fact sheets and samples, including Tax Topics; Depreciation and Expensing; Farm, Farming and Who’s a Farmer for Tax Purposes; Sample Tax Return; and Small Farm Tax Guide.”