Income Tax Planning for Farms that File a Schedule F
Income Tax Planning for Farms that File a Schedule F, Course 1 of the 2021/22 Farmer Tax School, $25/farm
This is a three-session course for farms that are already filing a Schedule F covering tax planning and goals, handling farm profits/losses, and strategies to improve your tax position while also working positively with your accountant/tax preparer. Our first session will provide an overview of tax planning, the management of tax liability, and assessing your record keeping system. Second session will delve into everything Schedule F - depreciation and classifying revenues and expenses. The final session will be led by a professional tax-preparer who will introduce tax planning strategies and the timeline for implementation with ample time for questions and discussion.
CAN'T MAKE IT LIVE?: Sign up any and we'll send you a recording following the workshop.
TECH REQUIREMENTS: Zoom (on phone, tablet, or computer). You may also call in and request paper documents be mailed to you.
IS THIS FOR ME?: This class is designed for farms that are already filing a Schedule F, covering tax planning and goals, handling farm profits/losses, and strategies to improve your tax position while also working positively with your accountant/tax preparer. The Tax School series has options for agricultural producers of all shapes, sizes, and time in business.
SPONSORSHIP: We are currently seeking agribusiness sponsorship for this series. We will be providing all of our participants with a directory of sponsors and their financial support services offered.
Experiencing financial hardship? Attend for free! Select the "scholarship" option at payment. Support for this option is made possible by our generous sponsors.
This course is part of Cornell Cooperative Extension's Farmer Tax School: An educational series from Cornell Cooperative Extension Farm Business Management Specialists. This series will inform and empower farm managers to better understand their tax obligations, management strategies, and improve farm profitability. This consists of four courses offered October 2021 - January 2022. Courses in the series are:
- Income Tax Planning for Farms that File a Schedule F, Tuesday October 13, 20 & 27, 7:00-8:30, $25/farm
This is a three-session course for farms that are already filing a Schedule F covering tax planning and goals, handling farm profits/losses, and strategies to improve your tax position while also working positively with your accountant/tax preparer. Our first session will provide an overview of tax planning, the management of tax liability, and assessing your record keeping system. Second session will delve into everything Schedule F - depreciation and classifying revenues and expenses. The final session will be led by a professional tax-preparer who will introduce tax planning strategies and the timeline for implementation with ample time for questions and discussion.
- Farm Financial Records for Decision Making & Tax Management, Thursday, December 2, 7pm - 9pm, $10/farm
A primer for beginning farmers, or a tune-up for those already in production, on recording income and annual expenses, capital expenditures and depreciation with additional information covering loans & credit card or revolving loan payments, sales of business assets, and deducting losses.
- Tax Management for Beginning and Small Farm Businesses. Tuesday, January 18, 7pm - 9pm, $10/farm
A one-night virtual meeting for beginning and part-time farmers that provides useful tax information enabling participants to be make better tax decisions for their business. Federal and state income taxes will be covered. Tax regulations specific to NYS will be covered as well.
- Tax Code Benefits and Last Minute Tax Updates for Farms, Tuesday, January 25, 7pm - 9pm, $10/farm
For farm businesses of all shapes and sizes, tune in to learn more about key tax benefits and tax incentives that are available for farms. Because this is our last class, this workshop will also include updated tax information for the current tax season.
Event Details
Date
October 13, 2021
Time
7:00pm-8:30pm
Location
Zoom Webinar
Cost
Farm Registration : $25.00
Access to Zoom Link (no limit on number of people who can watch at a site)
Farm Registration with Printed Materials Sent to You : $45.00
If you need us to mail you hard copies of the handouts there is a $20 fee to cover costs.
Scholarship : Free
Thanks to our sponsors, scholarships are available for those with financial hardship.
Host
CCE Farm Business Management Educators
Elizabeth Higgins
5189493722
emh56@cornell.edu
Event Registration
Session 1: Tax Planning, Goals, and Foundations
Our first session will provide an overview of tax planning, the management of tax liability, and assessing your record keeping system.
Event Details
Date
October 20, 2021
Time
7:00pm-8:30pm
Location
Zoom webinar
Host
CCE Farm Business Management Educators
Elizabeth Higgins
5189493722
emh56@cornell.edu
Event Registration
Session 2: Understanding the Schedule F, Depreciation, Profit/Loss Determinations
The second session will delve into everything Schedule F - depreciation and classifying revenues and expenses.
Event Details
Date
October 27, 2021
Time
7:00pm-8:30pm
Location
Zoom Webinar
Host
CCE Farm Business Management Educators
Elizabeth Higgins
5189493722
emh56@cornell.edu
Event Registration
Session 3: Income Tax Planning Strategies and Timelines
The final session will be led by a professional tax-preparer who will introduce tax planning strategies and the timeline for implementation with ample time for questions and discussion.
Apples
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Asian Pears
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Peaches
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Upcoming Events
2024 Tree Fruit & Small Fruit Twilight Meetings
April 25, 2024 : Tree Fruit & Small Fruit Twilight Meetings 1 of 4
Newark, NY
Join specialists Janet Van Zoeren, Anya Osatuke, and Anna Wallis for a conversation about fruit and berry phenology and pest management, at a new location each month.
May 30, 2024 : Tree Fruit & Small Fruit Twilight Meetings 2 of 4
Lockport, NY
Join specialists Janet Van Zoeren, Anya Osatuke, and Anna Wallis for a conversation about fruit and berry phenology and pest management, at a new location each month.
June 27, 2024 : Tree Fruit & Small Fruit Twilight Meetings 3 of 4
Penn Yan, NY
Join specialists Janet Van Zoeren, Anya Osatuke, and Anna Wallis for a conversation about fruit and berry phenology and pest management, at a new location each month.
July 25, 2024 : Tree Fruit & Small Fruit Twilight Meetings 4 of 4
Mexico, NY
Join specialists Janet Van Zoeren, Anya Osatuke, and Anna Wallis for a conversation about fruit and berry phenology and pest management, at a new location each month.
2nd Annual WNY Fruit Grower Tour
August 13, 2024
We are excited to announce the second annual Western New York Fruit Grower Tour, the premier fruit tour of the northeast brought to you by Cornell Cooperative Extension's Lake Ontario Fruit Program and Lake Ontario Ag Consulting, LLC! Located in Orleans County, this orchard field day will highlight new and existing products, chemistries, practices, technologies & equipment that shape the orchard industry today. The Western NY Fruit Grower Tour will again combine two past orchard tour events, the LOF Summer Fruit Tour and the Wayne County Fruit Grower Tour, giving industry members the opportunity to conveniently showcase their product offerings to ONE unified group at ONE time and place!
Save the Date - Western NY Fruit Conference - February 4-5, 2025
February 4 - February 5, 2025 : Western NY Fruit Conference
Rochester, NY
For the 2nd year in a row, we'll be having the Western NY Fruit Conference at the DoubleTree by Hilton Hotel in Rochester! It will be another 1 1/2 day conference. Stay tuned for program and registration info as we get closer.