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Income tax time is
around the corner and farmers need to start getting prepared according to
Wesley Tucker, an agriculture business specialist with University of Missouri
Extension.
A good resource that can help is the free Farmer’s Tax Guides which is available at your local University of Missouri Extension center.
“This free publication is helpful in explaining tax related issues. Whether you file your own taxes or hire a professional tax preparer, you still need to understand the basic farm income tax principals,” said Tucker.
The Farmer’s Tax Guides discusses topics such as what’s new in 2013 and 2014, farm income, farm business expenses, basis of assets, depreciation & amortization, gains & losses, disposition of property, installment sales, self-employment tax.
To request one of these free publications call or stop by your local MUExtension Center.
A good resource that can help is the free Farmer’s Tax Guides which is available at your local University of Missouri Extension center.
“This free publication is helpful in explaining tax related issues. Whether you file your own taxes or hire a professional tax preparer, you still need to understand the basic farm income tax principals,” said Tucker.
The Farmer’s Tax Guides discusses topics such as what’s new in 2013 and 2014, farm income, farm business expenses, basis of assets, depreciation & amortization, gains & losses, disposition of property, installment sales, self-employment tax.
To request one of these free publications call or stop by your local MUExtension Center.
(by David Burton, MU Southwest Region)
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