Tax Preparation for Farmers – Free Online Farminar

Free Online Farminar from Practical Farmers of Iowa on Tax Preparation for Farmers When: Tuesday, January 10, 2012 at 7 pm (CST)This is the first live farminar of the Winter 2012 series. To learn about upcoming farminars see below. Tax Preparation for Farmers With Jerry Peckumn and Leo Brooker, CPA Hear from a farmer and his CPA about tax preparation basics and how to properly file farm business taxes. Topics can include: business deductions, preparing tax documents for your employees, recordkeeping tips to make tax season less stressful. Jerry Peckumn is a row crop and livestock farmer who lives near Jefferson. Before farming, Jerry provided agricultural banking services. He enjoys the native prairie on his land and is active in many organizations to improve the lives of farmers and their land stewardship. Leo Brooker, Certified Public Accountant at Brooker and Co. in Jefferson, has been Jerry's tax advisor for the past 25 years. FREE "Farminar" from Practical Farmers of Iowa of the 2012 winter series. This web-based seminar is a 90-minute, interactive, online learning opportunity offered by Practical Farmers of Iowa. Please pass along this valuable online learning opportunity to your network of friends and colleagues. New farminars are presented live at 7 PM (CST) Tuesdays in November, December, January, and February. Check out more Faminars from Practical Farmers of Iowa below!

More than 45 previously recorded farminars are available in our archive.

Supported by the Beginning Farmer and Rancher Development Program of the National Institute of Food and Agriculture, USDA, Grant # 2010-49400-21843

Upcoming Farminars

Scale and profit: a financial snapshot of three CSAs

with Blue Gate Farm, Fair Share Farm, and Grinnell Heritage Farm

Do you operate or are you thinking about starting a CSA? Do you know at what scale is best for your skills, farm size and profit potential? Tune in to learn what profit you can expect to achieve and hear about legal structure, goals, vision, profit, and more!

When and Where

Tuesday, January 17, 7:00-8:30 (CST)


Insect pest management in Organic vegetable production with Kate Edwards and Steve Pincus

Learn strategies to mitigate the damage caused by flea beetles, cucumber beetles, thrips, European corn borer, cabbage root maggot, and aphids, using organic-approved methods.

When and Where

Tuesday, January 24, 7:00-8:30 (CST)


Profitable recordkeeping: simple strategies for graziers with Joel Winnes and Ryan Herman

Looking to make your farm more profitable? This farminar will focus on how to track your expenses and income, and collect more data to help you make informed business decisions.

When and Where

Tuesday, January 31, 7:00-8:30 (CST)


 Improve your Farmers Market sales with John Wesselius and Dru Montri

Tired of coming home from market with $50.00 and a vehicle full of product? Learn how to calculate how much it costs you to attend the farmer’s market, how to set a farmer’s market income goal, and strategies to achieve profit through farmer’s market.

When and Where

Tuesday, February 7, 7:00-8:30 (CST)


Integrate small grains into your large grain row crop and livestock farm with Wade Dooley and Tom Frantzen

Want to learn how to add alternative crops to reduce input costs, pest pressure, and raise more profitable and healthy livestock?

When and Where

Tuesday, February 21, 7:00-8:30 (CST)


Pricing poultry: eggs, broilers, and turkeys with Garrett Caryl and Kim Alexander

Many consumers are demanding niche market “farm fresh eggs” or “pastured poultry” – learn how to price and market your poultry products for profit during this farminar.

When and Where

Tuesday, February 28, 7:00-8:30 (CST)


Determine business feasibility with financial projections with Grant Schultz and Chris Blanchard

Want to grow healthy food for your local community and make a profit doing so? Learn how to plan for profit by using financial sheets to help guide your farm’s production systems, markets and scale.

When and Where

Tuesday, March 6, 7:00-8:30 (CST)


Longterm fertility management with livestock in crop rotation with Nathan Anderson and Ron Rosmann

Are high input costs eating up all your profit? Learn how livestock management and longer rotations can increase your potential for profit while nurturing healthy soils, plants, and animals on your farm.

When and Where

Tuesday, March 13, 7:00-8:30 (CST)

2 Comments on Tax Preparation for Farmers – Free Online Farminar

  1. I am a small dairy farmer who is thinking about trading those cows in for beef cows. I asked my tax prep if there was a way to do this without being taxed so highly. She said I would have to pay taxes on all those dairy cows, then buy the beef and take the purchased price off them when I sell them. Is this true?

    • Charles,

      This is not my area of expertise but I suspect that at least part of it is correct. If you sell any product you’re going to get taxed. It seems to me that the beef purchase should be a farm expense/investment and you should be able to write it off, but don’t take my word for it. If you don’t have a tax prep person who is familiar with agriculture, or if you have one who is not very “creative” in terms of getting you the best deal within the law, you might want to start looking around for someone else. That’s just my opinion. Sorry I can’t be more helpful.

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