As Administered by the National Farm Income Tax Extension Committee
See information, materials, and tools regarding the IRA Assistance for Distressed Borrowers.
Register for our FREE upcoming webinars:
Farm and Ranch Tax Strategies, Feb 22, 2023; 3-4:30pm ET. Register
Schedule F (Profit or Loss From Farming) Line-By-Line, Mar 22, 2023; 3-4:30pm ET. Register
Farmers, ranchers and other agricultural producers and Extension educators will find resources for agriculturally related income and self-employment tax information that is both current and easy to understand.
Tax issues are important for agricultural operations because income and self-employment taxes are a major cost and also because more and more USDA programs are being linked to a producer’s federal income tax return.
For more great information and resources, check out https://www.farmers.gov/working-with-us/taxes and https://agftap.org/
Tribal Tax Information
There are some conditions that will allow income from farming and ranching to be exempt from federal income and self-employment taxes for farming on trust property. However, not all tribal members will meet those conditions.
Disaster Tax Information
There are special tax provisions for sales of livestock more than normal because of weather conditions. Personal and business losses may be deductible due to disasters (i.e. fire, flood, hurricane, tornado).
New Farmer Tax Information
Useful topics for beginning farmers. The linked fact sheets are a good place to start to get basic information you may need as you consider your tax situation.
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