New Farmer Tax Topics

    New Farmer Tax Topics

    On this page, you will find some 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.

     

    These topics are for educational purposes only. We encourage you to seek the advice of a tax or legal professional. 

     

    Tax Topics:

    Farm, Farming, and Who's a Farmer

    How to Choose a Tax Professional

    Self-Employment Tax

    The Optional Method of Paying Self-Employment Tax

    Farm Losses versus Hobby Losses: Farmers Must Plan Ahead to Avoid Adverse Tax Consequences

     

    Tools:

    Farm Tax Estimator Tool

     

    Webinars:

    Hobby Losses   REGISTER NOW!  October 17 2:00-3:30pmET

    1099s  November 17  3:00-4:30pmET   Registration coming soon

    An Introduction to Ag Taxes: What New Farmers Should Know  July 2022

    Using the Tax Calculator    August  2022

    Self-Employment Tax & Farm Optional SE Tax   Sept 2022  - Coming soon

     

    Other Resources:

    IRS: FAQs- Directory of Federal Tax Return Preparers with Credentials and Select Qualifications

    IRS: Verify the Status of an Enrolled Agent

    USDA Farmer's Tax Website

    Land Grant University Tax Education Foundation 

    IRS Farmer's Tax Guide 2021 (Publication 225)

     

    All Tax Topics