Nebraska Extension offering workshop on tax planning for farms and ranches PREEC Release

The Nebraska Extension will host an Introduction to Schedule F, Tax Planning for Farms and Ranches Workshop on Thursday, September 19, from 5:30 to 7:30 p.m. in Scottsbluff at the Panhandle Research Extension and Education Center, 4502 Avenue I.

"Farmers and ranchers, especially new and beginning producers, often have questions about tax planning for their business," said Jessica Groskopf, Extension Educator. "This workshop will provide you with the basic information you need when filing a Schedule F."

The workshop will cover:

• Basic tax information: What are income taxes? What are income tax brackets?

• Who qualifies as a Farm for tax reporting purposes?

• What is a schedule F?

• Cash vs. Accrual Accounting

• Tax Documentation

The workshop is free to attend, but registration is encouraged. To register, call the Panhandle Research, Extension, and Education Center at (308) 632-1230.