December 16, 2020
Managing Taxes for Agricultural Producers
The Internal Revenue Service has issued changes to certain regulations as a result of COVID-19. They continue to make changes and modifications to laws in an effort to lighten the negative impacts the virus has had on the U.S. economy. Some of these changes were effective for the 2019 tax returns. Other changes will be specific to 2020 tax year reporting.
It will be helpful for taxpayers to stay informed of these changes in order to do the best job of managing their taxable income. Many of the details will be discussed at this seminar. Tax professionals will be available to answer questions.
What You Will Learn:
- How to report stimulus payments
- How to manage taxable income
- What IRS changes affect 2020 tax reporting
How You Will Learn:
- Seminar presentations
Who Should Attend:
- Anyone who has agricultural income and/or expenses
- Understanding Factors Affecting Calf Prices
- Recordkeeping Methods and Tools
- Categorizing Income and Expenses
- How to Set Up and Use Quicken