tools for agricultural producers: keepseagle follow -up tax...
TRANSCRIPT
Tools for Agricultural Producers: Keepseagle Follow-up Tax Clinics/Workshops
Trent Teegerstrom, University of Arizona Director of Arizona Tribal Extension Programs & Associate Extension Specialist Department of Ag and Resource Economics P.O. Box 210023 Tucson, AZ 85721 [email protected]
Tools for Agricultural Producers: Keepseagle Follow-up Tax Clinics/Workshops
Tax laws and regulations change frequently, and their
application can vary widely based on the specific facts and circumstances involved. The tax information contained in these educational materials and discussed during the accompanying oral presentation is for informational and educational purposes only and does not constitute legal or tax advice. Each taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Why Keep Records? • Personal & Operation Mgmt. & Planning: records
will help you make informed management decisions and plan for the future
• Government Programs: records are required for participation
• Loans/credit: financial records are required to obtain loans or other forms of credit
• Leasing agreements: production and financial records required in order to lease or buy additional land
• Taxes: records provide the documentation needed to deduct the production costs
• Keepseagle: Difference between Track A and Track B the amount of records available for verification
Taxes
Rural Tax Education http://ruraltax.org/
Tax Fact Sheet Topics http://ruraltax.org/
Tax Fact Sheet Topics http://ruraltax.org/
Hand Written Records
Spreadsheets and Other Decision Analysis Programs
Ranch Planning/Decision Analysis evaluation of supplementation. early weaning versus drylot
Diagnostic Tree Analysis total ranch and per exposed cow
Herd Productivity by Age Cohort category available to lump cows together if ages are unknown
Farm/Ranch Analysis Worksheet
Detailed Breakdown of Cost
-- critical control point analysis
-- identify economic problem areas!!
Decision Analysis
Quicken® for Farm Financial Records
agecon.okstate.edu/quicken
Damona Doye [email protected]
Sarkeys Distinguished Professor
Extension Economist and Regents Professor OSU Agricultural Economics Department
• Cash flow • Tax schedule • Transactions • Account balances • Comparison • Filtered • Memorized • Balance sheet
Quicken Reports & Graphs
• Print materials plus video on-line at www.agecon.okstate.edu/quicken
• $25 for printed notebook and CD with sample files • Quarterly Quick Tips farm management newsletter
OSU Quicken Resources
Websites with Fact Sheets, Tools, PowerPoints and other Farm and Ranch Management Information
Intertribal Agricultural Council http://ww.indianaglink.com/
Inheriting Indian Land Fact Sheets http://www.montana.edu/indianland/factsheets.html
Ag In Uncertain Times Website http://www.farmmanagement.org/aginuncertaintimes/
Programs and Training Materials www.Agtools.org
RightRisk http://www.rightrisk.org/
RightRisk Getting on Track: Ag Records
RightRisk Getting on Track: Ag Records
RightRisk Getting on Track: Financial Performance
Ag Risk & Farm Management Library http://www.agrisk.umn.edu/
Ag Lease 101 http://aglease101.org/
Farmdoc http://www.farmdoc.illinois.edu/index.html
OSU Quicken Resources: www.agecon.okstate.edu/quicken
Farmdoc:http://www.farmdoc.illinois.edu/index.html
Ag Lease 101: http://aglease101.org/
Ag Risk & Farm Management Library: http://www.agrisk.umn.edu/
RightRisk: http://www.rightrisk.org/
Programs and Training Materials: www.Agtools.org
Ag In Uncertain Times Website: http://www.farmmanagement.org/aginuncertaintimes/
Inheriting Indian Land Fact Sheets: http://www.montana.edu/indianland/factsheets.html
Intertribal Agricultural Council: http://ww.indianaglink.com/
Rural Tax Education: http://ruraltax.org/
Tools for Agricultural Producers: Keepseagle Follow-up Tax Clinics/Workshops
Tax laws and regulations change frequently, and their
application can vary widely based on the specific facts and circumstances involved. The tax information contained in these educational materials and discussed during the accompanying oral presentation is for informational and educational purposes only and does not constitute legal or tax advice. Each taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Keepseagle Tax Clinics & Workshop information
• Organizations involved in this webinar and clinic series and website addresses: • Intertribal Agriculture Council: www.indianaglink.com • Rural Tax Education: www.ruraltax.org • Extension Risk Management Education Centers
• Southern: www.srmec.uark.edu • Western: www.westrme.wsu.edu • North Central: www.ncrme.org
• University of Arkansas School of Law (www.law.uark.edu) • Supported also by the Northwest Farm Credit Services & the
Keepseagle Class Council Check the Keepseagle website frequently for updates: www.indianfarmclass.com