Tools for Agricultural Producers: Keepseagle Follow-up Tax Clinics/Workshops Trent Teegerstrom, University of Arizona Director of Arizona Tribal Extension.

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Presentation transcript:

Tools for Agricultural Producers: Keepseagle Follow-up Tax Clinics/Workshops Trent Teegerstrom, University of Arizona Director of Arizona Tribal Extension Programs & Associate Extension Specialist Department of Ag and Resource Economics P.O. Box Tucson, AZ

Why Keep Records? Personal & Operation Mgmt. & Planning: records will help you make informed management decisions and plan for the future Government Programs: records are required for participation Loans/credit: financial records are required to obtain loans or other forms of credit Leasing agreements: production and financial records required in order to lease or buy additional land Taxes: records provide the documentation needed to deduct the production costs Keepseagle: Difference between Track A and Track B the amount of records available for verification

Taxes

AgTools™ is a suite of software programs which help agricultural producers make better decisions to manage the financial risk in agriculture. AgTools™ is a suite of software programs which help agricultural produces make better decisions to manage the financial risk in agriculture. Rural Tax Education

AgTools™ is a suite of software programs which help agricultural producers make better decisions to manage the financial risk in agriculture. AgTools™ is a suite of software programs which help agricultural produces make better decisions to manage the financial risk in agriculture. Tax Fact Sheet Topics

AgTools™ is a suite of software programs which help agricultural producers make better decisions to manage the financial risk in agriculture. AgTools™ is a suite of software programs which help agricultural produces make better decisions to manage the financial risk in agriculture. Tax Fact Sheet Topics

Hand Written Records

Spreadsheets and Other Decision Analysis Programs

 Ranch Planning/Decision Analysis  evaluation of supplementation.  early weaning versus drylot  Diagnostic Tree Analysis  total ranch and per exposed cow  Herd Productivity by Age Cohort  category available to lump cows together if ages are unknown Farm/Ranch Analysis Worksheet

Detailed Breakdown of Cost -- critical control point analysis -- identify economic problem areas!!

Decision Analysis

Quicken® for Farm Financial Records agecon.okstate.edu/quicken Damona Doye Sarkeys Distinguished Professor Extension Economist and Regents Professor OSU Agricultural Economics Department

Cash flow Tax schedule Transactions Account balances Comparison Filtered Memorized Balance sheet Quicken Reports & Graphs

Print materials plus video on-line at $25 for printed notebook and CD with sample files Quarterly Quick Tips farm management newsletter OSU Quicken Resources

Websites with Fact Sheets, Tools, PowerPoints and other Farm and Ranch Management Information

AgTools™ is a suite of software programs which help agricultural producers make better decisions to manage the financial risk in agriculture. AgTools™ is a suite of software programs which help agricultural produces make better decisions to manage the financial risk in agriculture. Intertribal Agricultural Council

AgTools™ is a suite of software programs which help agricultural producers make better decisions to manage the financial risk in agriculture. AgTools™ is a suite of software programs which help agricultural produces make better decisions to manage the financial risk in agriculture. Inheriting Indian Land Fact Sheets

Ag In Uncertain Times Website

AgTools™ is a suite of software programs which help agricultural producers make better decisions to manage the financial risk in agriculture. AgTools™ is a suite of software programs which help agricultural produces make better decisions to manage the financial risk in agriculture. Programs and Training Materials

RightRisk

RightRisk Getting on Track: Ag Records

RightRisk Getting on Track: Financial Performance

Ag Risk & Farm Management Library

Ag Lease 101

Farmdoc

OSU Quicken Resources: Farmdoc: Ag Lease 101: Ag Risk & Farm Management Library: RightRisk: Programs and Training Materials: Ag In Uncertain Times Website: Inheriting Indian Land Fact Sheets: Intertribal Agricultural Council: Rural Tax Education:

Keepseagle Tax Clinics & Workshop information Organizations involved in this webinar and clinic series and website addresses: Intertribal Agriculture Council: Rural Tax Education: Extension Risk Management Education Centers Southern: Western: North Central: University of Arkansas School of Law ( Supported also by the Northwest Farm Credit Services & the Keepseagle Class Council Check the Keepseagle website frequently for updates: