Taxes

Man at desk with tax prep paperwork — For more webinars on farm and ranch management, profitability, economics and farm survival for producers and ag industry professionals, visit the Center for Agricultural Profitability website.

2023 Income Tax Updates for Farmers and Ranchers

December 1, 2023

This webinar reviews 2023 tax considerations for ag producers, including crop insurance, deferral options for livestock sales, potential law changes and more.

Capitol building — The Corporate Transparency Act will require most U.S. corporations and limited liability companies to file basic information regarding the officers and major owners of the business, in an effort to prevent money laundering and similar criminal activities.

UNL Webinar to Cover Corporate Transparency Act Requirements for Farm and Ranch Businesses

November 29, 2023

Webinar participants will learn more about the act, why it was adopted and what information will need to be filed in 2024 for farm and ranch businesses.

Man using calculator at desk — Landowner who are interested in claiming deductions via Section 180 should consult with their CPA or tax advisor. (Center for Ag Profitability photo)

What is IRS Section 180 and How Does it Work?

November 16, 2023

With recent land purchases, some producers are asking questions to learn more about IRS Section 180 and how it may provide tax deductions in the year of purchase.

Cattle at feed troughs — All workshops during Ag SmartMoney Week are free to attend, but registration is encouraged. See details below.

‘Ag SmartMoney Week’ Offers Free Webinars, Workshops for Ag Producers to Improve Management Skills

November 2, 2023

The series will include three in-person workshops and seven webinars covering topics related to risk management, estate and transition planning, land leasing and rental rates, human resources and technology.

Woman at computer using calculator — Participants are encouraged to attend all three workshops, as each will review different tax fundamentals and information.

Virtual Workshop Series to Cover Tax Basics, Strategies for Midwestern Women in Ag

October 26, 2023

The workshops will cover a wide range of tax topics for ag producers, including Schedule F forms, claiming deductions, tax strategies to shift income and lower tax bills, and compliance requirements.

The Center for Ag Profitability's ag law webinar reviews concerns about Proposition 12, Waters of the U.S. and property taxes. (Photo credit: Nebraska Unicameral Information Office)

Ag Law in the U.S. Supreme Court

August 11, 2023

UNL Professor and Agricultural/Water Law Specialist Dave Aiken examines three 2023 decisions by the U.S. Supreme Court that affect the ag industry.

Producer at computer — The benefit to forming a pass-though entity is a federal tax deduction for the state tax paid; however, the entity will need to make estimated tax payments (even if it is a farming partnership), starting Jan. 1, 2024, if they decided to make this election. (Center for Ag Profitability photo)

Nebraska Approves Pass-through Entity Tax Bill

August 4, 2023

Whether or not the pass-through entity tax bill could benefit you will depend on your profitability level, current structure, operation size, and other factors. Read the Center for Ag Profitability's recent analysis to make an informed decision about this new tax option.

March 1 Filing Deadline

December 9, 2022

Nebraska Farm Business, Inc. Director Tina Barrett discusses payment options available to farmers for the upcoming tax season.

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