New Tax Education Program for Farmers

The USDA-Risk Management Agency (RMA) in conjunction with several Universities has just announced a new site for financial and tax information for farmers.  The site is located at www.ruraltax.org.

The site is comprised of:

• Tax Topics
• Sample Farm Tax Return
• Small Farm Tax Guide
• Links

Plus some information on who has contributed to the site and the history of the program.

I have briefly reviewed the small farm tax guide and it has very useful information on not just taxes, but budgeting and how financial statements work, etc.  Having this site in conjunction with the farmer’s tax guide at the IRS web site will answer many of the common questions that farmers might have.

However, this information is of a fairly general nature and this blog is designed to help our farmers with more complex tax and accounting needs.  Make sure to review these two useful publications, but we look forward to helping you with your other tax and accounting needs.