University of Missouri Extension will host free farm tax workshops in December to update farmers and ranchers on farm and individual tax filings. Denise Ferguson, MU Extension agriculture business specialist, says farmers can attend via Zoom or in person at locations throughout the state.

There will be an in-person meeting Wednesday, December 13, from 1:00 to 3:30 p.m. at the Northwest Missouri State University Agricultural Learning Center (22893 U.S. Hwy. 71, Maryville, Missouri). The workshop will be offered online that same day and time and it will be offered in the evening on Tuesday, December 12, from 6:15 to 8:45 p.m.

“Now that December has arrived and harvest wrapped up across the state, many farmers will be turning their attention to evaluating the season financially and beginning to organize their records for the tax deadline a few months away. Knowledge of tax regulations helps farmers optimize their operations, make informed decisions about investments and maximize potential deductions, ultimately contributing to the overall financial health of the farm,” said Ferguson.

Topics include employee versus independent contractor, legislative and regulatory updates, form 1099 requirements, tax issues related to drought sales, tax issues arising from the death of a farmer, depreciating and expensing farm assets, sale and exchange of farm property and many more tax related topics. Attendees will learn about IRS resources and updates that farmers and ranchers find helpful.

Register for the free workshop at https://extension.missouri.edu/events/farm-tax-workshop-dec.-13 or call the Extension Office at 816-279-1691 for assistance in registering.