NDSU offers Ag tax workshop online

By Scout Nelson

On December 2, from 1 to 4 p.m. CT, agricultural producers and tax preparers have the opportunity to join an online tax management program hosted by North Dakota State University Extension. This virtual workshop is designed to deliver critical insights into tax management specifically tailored for the agricultural sector.

Ron Haugen, an NDSU Extension farm management specialist, will moderate the session. The program will feature expert speakers from various organizations including the Internal Revenue Service and University extensions. These experts will provide updates and share their expertise on a range of topics pertinent to agricultural tax issues.

The workshop's agenda is set to cover several important areas including the latest federal income tax updates, strategies for reporting lease and easement income, and ways to handle identity theft and breaches. Additionally, discussions will delve into tax management strategies beneficial upon retirement, depreciation practices, like-kind exchanges, disaster provision reporting, and optimizing qualified business income.

This timely session aims to arm participants with the knowledge necessary to make informed tax management decisions before the year ends. It's a perfect setting for attendees to learn directly from experts and get answers to their specific tax-related questions through a live chat function.

Registration for the event is mandatory and needs to be completed by November 26, with a participation fee of $20. This fee includes access to the Zoom session and all related materials, which will be available for download prior to the event. Although continuing education credits are not offered, the knowledge gained could be invaluable in planning and executing effective tax strategies.

To register, participants should visit the NDSU agricultural extension site and provide their email address to receive the Zoom link and materials. For more details or to address any queries, contact Paulann Haakenson via email or phone at the NDSU Extension office.

This program is an essential tool for anyone involved in the agricultural sector, offering key tax management insights that can lead to significant financial benefits.

Photo Credit:pexels-nataliya-vaitkevich