Filing taxes for an agricultural operation can be challenging, and many producers may not have the funds to hire accountants or tax professionals to assist. USDA’s Farm Service Agency (FSA) and Oklahoma State University are offering two free webinars:
Monday, September 26, 2 p.m. Eastern: Self-Employment Tax and Farm Optional Self-Employment Tax. Most taxpayers working for an employer have FICA and Medicare withheld from their wages, but the self-employed individual must pay self-employment (SE) tax to be entitled to similar benefits. Join USDA and JC Hobbs, Associate Extension Specialist, Department of Agriculture Economics, Oklahoma State University to learn how to file for SE tax. Register here.
Monday, October 17, 2 p.m. Eastern: Hobby Losses. When filing an income tax return, it is important to determine if a venture is a business or hobby. Join USDA and JC Hobbs, Associate Extension Specialist, Department of Agriculture Economics, Oklahoma State University to learn how to determine and calculate hobby losses for tax purposes. Register here.
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