Who Registers Where Grabes Are.in Nc

Posted On January 21, 2022

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Estoy de Acuerdo / I agree

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The North Carolina Cooperative Extension, Chatham County Center is conducting aFarm Taxation Webinar Seriesequally part of itsEnhancing Sustainability Series starting on February xv and ending in early March. All webinars volition be from 6–viii p.m EST. See below for details on each webinar.

Target audience: farmers (vegetables & fruits, cut flowers, livestock, hemp, row crops, etc.), nursery growers, beekeepers, aquaculture producers.

Annotation: this webinar series is geared towards N Carolina farmers. Still, near of the information provided will be relevant to farmers throughout the U.S.

The webinars volition be taught by Agricultural Taxation Specialist Guido van der Hoeven (see bio at the lesser of this page). Guido is a retired Extension Specialist at NC State Academy, and nosotros have been collaborating on subcontract revenue enhancement workshops in Chatham County for over 10 years. These workshops always prove to be very pop; in fact, 95% of participants from our terminal farm tax workshop rated it as outstanding or splendid.

Testimonials from past Chatham County Farm Tax Workshop Participants taught past Guido:

Fantabulous instructor, brings real situations into the classroom.
Dynamic speaker and I appreciate that he was and so open with his knowledge.
Presenter was very knowledgeable and interjected enough humor to continue it interesting.
Excellent review of tax strategies; adept info, thorough treatment of tough topic. Start fourth dimension I have ever begun to understand taxes. Very helpful data offered in an like shooting fish in a barrel to empathise mode.

Hither is a list of the 2022 Farm Tax Webinars (scroll downwardly to view details on each one):

Feb 15, 2022: Farm Tax and Business organization Info 101
February 22 and Feb 24, 2022: Schedule F Income & Expenses
March 8, 2022: Sales and Property Tax Issues for Farmers

You lot must annals for each webinar separately (the ii Schedule F webinars are taken together so you only annals once for those).

February fifteen, 2022: Farm Taxation and Business concern Info 101
Time: 6:00-8:00 p.m. EST

This first webinar is intended for new or beginner farmers and folks considering transitioning from homestead production to market farming.

Topics:

When does the IRS consider y'all a farm? When are you required to file a Schedule F?
What is a Schedule F and when practise I demand to file i? Note: the Feb 22 and February 24 webinars will get into particular on the Schedule F form
3 ways to identify yourself equally a farmer
The character of income: subcontract income (earned income); capital income (e.chiliad., selling livestock, land easement, sale of stock), passive income (e.g., rental income, interest and dividends); know the divergence so you know what to put on Schedule F vs. other forms
What is a Farm Number, what is it for, and how do I become one?
What is a Tax ID number, what is it for, where practise I go one, and how is it different from a Subcontract Number?
Brief introduction to sales tax: what this ways for farmers, minimum income requirements, etc. (this will be covered in more than detail in the March 8 webinar)
Present Use Value Plan
Which farm business construction (sole proprietorship, LLC, etc.) is advisable for me and when/how might that alter over the years?
What is a "bona fide farm"?

Click here to register for the February fifteen Farm Tax and Concern Info 101 webinar.

The toll for the webinar is $fifteen. Registrants will receive a recording of the webinar and a listing of resources. Deadline for registration is February 14.

February 22, 2022: Schedule F Income
Time: 6:00-8:00 p.k. EST

At that place are two webinars covering Schedule F and they are taken equally a unit. The offset Schedule F webinar will exist focused exclusively on income. The second webinar is two days later and covers expenses.

Topics:

Introduction to the IRS Schedule F (Profit or Loss from Farming)
What'south considered subcontract income, what'south not farm income
Recordkeeping: what documentation/receipts you should keep; software for tracking income and expenses

February 24, 2022: Schedule F Expenses
Time: 6:00-8:00 p.one thousand. EST

There are two webinars covering Schedule F and they are taken as a unit.The 2nd Schedule F webinar will be focused exclusively on expenses.

Topics:

Expenses: what's allowed, what's not immune
Depreciation and sale of business organization assets (e.g., dairy farmer selling a culled cow)
Recordkeeping continued

Click here to register for the 2-part Schedule F webinar.

The cost for the webinars is $30 (for both webinars). Registrants will receive a recording of the webinars and a list of resources. Deadline for registration is February 21.

March viii, 2022:Sales and Property Revenue enhancement Problems for Farmers
Time: 6:00-8:00 p.m. EST

Topics:

Sales taxation exemption for purchase of inputs: qualifications, how to sign upward, etc.
Collection and remittance of sales taxes on sales of subcontract products
Present Use Value Programme: do I qualify to defer property taxes on my land?

Click hither to annals for the March 8 Sales and Property Tax webinar.

The cost for the webinar is $xv. Registrants will receive a recording of the webinar and a list of resources. Deadline for registration is March 7.

Presenter Bio:

Guido van der Hoeven is an Agricultural Tax Specialist with the Center for Agricultural Police force and Tax at Iowa State University. Guido retired as an Extension Specialist/Senior Lecturer in the Department of Agricultural and Resources Economic science at North Carolina Country University in Raleigh, Northward Carolina in October 2019. Guido'southward extension responsibilities included: income tax of individuals and business organisation entities, subcontract business management and the assisting continuation of "family firms" to succeeding generations. Van der Hoeven serves as President of the Land Grant Academy Tax Education Foundation, Inc. which publishes a ~650-folio text for income revenue enhancement grooming of professional taxation practitioners and a ~220-page text focusing on Agronomical Revenue enhancement.

Questions?

If you accept questions about this webinar series, contact Sustainable Agriculture Amanuensis Debbie Roos at 919-542-8244 or dlroos@ncsu.edu.

NC State Academy and N.C. A&T State Academy commit themselves to positive activity to secure equal opportunity and prohibit discrimination and harassment regardless of age, color, disability, family and marital condition, genetic information, national origin, political beliefs, race, religion, sexual identity (including pregnancy), and veteran status. NC State University, N.C. A&T Land University, U.S. Department of Agriculture, and local governments cooperating. Persons with disabilities and persons with limited English proficiency may request accommodations to participate by contacting Ginger Cunningham, County Extension Managing director, at 919-542-8202, ginger_cunningham@ncsu.edu, or in person at the Chatham Canton office at least xxx days prior to the event.