By David Ostdiek
Farm and Ranch Tax Strategies workshops are scheduled for early December in Alliance and Sidney as part of the 2014-15 Farm and Ranch Risk Management Series sponsored by Nebraska Extension.
Speaker Anthony Barrett of Nebraska Farm Business Inc. will discuss the most up-to-date laws in effect for 2014 farm income taxes, including an update on Section 179 depreciation and possible bonus depreciation. Topics will include where these tools can be beneficial and times to avoid using too much depreciation.
Other tax planning topics on the agenda include:
- Income averaging: How can it help me?
- Too much deferral of income — creating a snowball effect
- Deferral of crop insurance and disaster proceeds: Is it the right option for me?
- Avoiding NOLs — What can it hurt me?
- Paying spouses and minor children — How can this be beneficial?
This will be an interactive discussion, so participants should bring questions. Please pre-register by phone, fax, e-mail, or mail. Workshops with less than 10 pre-registered participants may be canceled.
Schedule
Dec. 1, Alliance: 2-5 p.m. at the Alliance Library, 1750 Sweetwater Ave.
Dec. 2, Sidney: 9 a.m.–noon at the 4-H Building at the Cheyenne County Fairgrounds
Source:unl.edu