Extension hosting workshops on Schedule F, tax planning for ag producers in Scottsbluff, Kimball

Corn waiting for harvest. (Photo by Chabella Guzman.)

Nebraska Extension will host a free Introduction to Schedule F, Tax Planning for Farms and Ranches Workshop in Scottsbluff and Kimball for agricultural producers and professionals.

The Scottsbluff workshop will be 1 to 2:30 p.m., Nov. 8, at the Lied Scottsbluff Public Library, 1809 3rd Avenue. To register, call the Panhandle Research and Extension Center at 308-632-1230.

The workshop in Kimball will be 1 to 2:30 p.m., Nov. 9, at the Kimball County 4-H Building, 499 S. High School St. Register by calling Nebraska Extension in Kimball County at 308-235-3122.

The workshops will cover basic tax information about income tax and tax brackets, qualifications of a farm for tax reporting, Schedule Fs, cash versus accrual accounting and tax documentation.

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

The meetings are being presented as part of ‘Ag SmartMoney Week,” five days of webinars and workshops designed to offer education, information, tools and training for agricultural producers in Nebraska to better manage and improve their operations. Areas covered include topics related to risk management, estate and transition planning, land leasing and rental rates, human resources, and technology. It is being presented by Nebraska Extension, UNL’s Center for Agricultural Profitability and the Nebraska College of Technical Agriculture, in partnership with businesses, financial institutions, nonprofits and government agencies. More information is available at https://cap.unl.edu/smartmoney.