Don’t Fear the Schedule F! Federal Farm Tax Returns Webinar for New and Beginning Farmers

Farm income and expenses are reported to the IRS on a Schedule F (Form 1040), Profit or Loss From Farming. This webinar addresses the tax reporting requirements for farmers, including how to identify if you have farm income, when to file your tax return, and common tax deductions available to farmers. This webinar also includes a discussion about how the Schedule F is related to your overall tax return and common business reports.
Speaker:
Michael Sciabarrasi, Emeritus Extension Specialist, Agricultural Business Management, UNH
As a University of New Hampshire Extension Specialist, Mike offered educational programs in farm business management, agricultural finance, farm succession, and taxation to New Hampshire and New England farmers from 1980 through 2016. Since retiring in 2016, Mike continues to work on selected grant-funded research and farm educational programs in the region.
This webinar was made possible by the Maine New Farmers Project with grant funding through USDA NIFA award # 2021-70033-35716.
In complying with the letter and spirit of applicable laws and pursuing its own goals of diversity, the University of Maine System does not discriminate on the grounds of race, color, religion, sex, sexual orientation, transgender status, gender, gender identity or expression, ethnicity, national origin, citizenship status, familial status, ancestry, age, disability physical or mental, genetic information, or veterans or military status in employment, education, and all other programs and activities. The University provides reasonable accommodations to qualified individuals with disabilities upon request. The following person has been designated to handle inquiries regarding non-discrimination policies: Director of Equal Opportunity, 101 Boudreau Hall, University of Maine, Orono, ME 04469-5754, 207.581.1226, TTY 711 (Maine Relay System).

[@azcountrymom]

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[@marinagarland180]

Very informative, thank you for sharing this.

[@JEMPL27]

Wao! Great info!!! So clear!!!