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
The Optional Method of Paying Self-Employment Tax
Farm Losses versus Hobby Losses: Farmers Must Plan Ahead to Avoid Adverse Tax Consequences
Tools:
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
Land Grant University Tax Education Foundation
IRS Farmer's Tax Guide 2021 (Publication 225)