The 2017 Tax Cuts and Jobs Act is now law and has a number of implications for farm and ranch operators. 

A tax reform workshop has been scheduled for March 14 to help area farmers and ranchers understand the impacts of the 2017 Tax Cuts and Jobs Act on their 2018 tax liability. It will be held at the Panhandle Research and Extension Center in Scottsbluff from 6 p.m. until 7:30 p.m.

The workshop is free. Registration is requested by calling Jessica Groskopf at 308-632-1247.

Topics will include:

• Individual tax changes — new tax brackets, the increased standard deduction, elimination of the personal exemption, changes to itemization and more.
• Business tax changes — 199 and 199A business income deductions, 179 business expense deductions, bonus depreciation and more.

For more information or assistance, please contact Jessica Groskopf, Nebraska Extension Educator, at 308-632-1247 or jgroskopf2@un.edu.