A University of Missouri Extension workshop will help farmers and ranchers learn about tax updates.
The workshops, offered in December at nine sites, will cover updates on livestock tax issues, Form 1099 requirements, sale and exchange of farm property and other topics, says Mary Sobba, University of Missouri Extension agricultural business specialist.
MU Extension specialists will share important changes that will affect taxes for farmers and ranchers in the near future, says Sobba. These include the sunsetting of increased estate and gift tax exemptions and expiration of other key income tax provisions. Other topics include employee vs. independent contractor, livestock tax issues related to drought, depreciating and expensing farm assets and sale and exchange of farm property.
Sobba and MU Extension agricultural business specialists Rachel Hopkins, Amie Breshears, Wesley Tucker, Denice Ferguson, Katie Neuner and Jason Morris will facilitate the workshops at nine locations throughout the state on Dec. 12 and 13. Workshops also will be available via Zoom.
Sessions will be held 6:15-8:45 p.m. Tuesday, Dec. 12, in St. Robert, Montgomery City, Sedalia and Bolivar. Register for these sessions at http://muext.us/farmtaxdec12(opens in new window).
Sessions also will be offered 1-3:30 p.m. Wednesday, Dec. 13, in Maryville, Ste. Genevieve, Shelbyville, Warsaw and Fredericktown. Register at http://muext.us/farmtaxdec13(opens in new window).
Source : missouri.edu