Virtual Workshop Teaches Key Farm Tax Basics

By Andi Anderson

A two-part virtual workshop called Understanding Farm Taxes is designed to help farmers learn the basic skills needed for strong tax planning. Many farmers face difficult financial decisions each year, and this program offers clear guidance that supports better money management and long-term planning.

The series is open to farmers, farmland owners, and anyone who wants to understand how farm taxes work.

The workshop runs on December 1 and December 8 from 7:00 to 8:30 p.m. Eastern time. Each session covers a different part of farm tax planning. The first session focuses on the fundamentals of farm taxes. It explains basic income tax rules, how farm income is reported, and the difference between cash and accrual accounting. Participants also learn how Schedule F is used to report farm profit or loss.

The second session moves to tax strategies and important questions that farmers should discuss with their accountants. This includes ways to plan, how to track expenses correctly, and how certain financial choices can affect taxes. The goal is to help farmers make informed decisions and avoid costly mistakes.

The program is offered in a virtual format, which allows participants to join from any location. A stable internet connection and Zoom access are required. The registration fee is $20, and participants must register by November 30. Recordings will be shared with everyone who signs up, which helps people review the material at their own pace.

Anyone who needs accommodation, an interpreter, or translation support should contact Jenna at 765-653-8411 or smith535@purdue.edu by November 20. Purdue University reminds participants that it does not allow discrimination based on race, religion, gender, age, disability, or other protected factors.

By offering clear lessons and practical tools, the Understanding Farm Taxes workshop helps farmers gain confidence in their financial planning. These skills support stronger decision-making and healthier farm businesses.

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