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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 on theme: "Tools for Agricultural Producers: Keepseagle Follow-up Tax Clinics/Workshops Trent Teegerstrom, University of Arizona Director of Arizona Tribal Extension."— Presentation transcript:

1 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 210023 Tucson, AZ 85721 tteegers@ag.arizona.edu

2 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

3 Taxes

4 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 http://ruraltax.org/

5 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 http://ruraltax.org/

6 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 http://ruraltax.org/

7 Hand Written Records

8

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10 Spreadsheets and Other Decision Analysis Programs

11  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

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

13 Decision Analysis

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

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

16 Print materials plus video on-line at www.agecon.okstate.edu/quicken www.agecon.okstate.edu/quicken $25 for printed notebook and CD with sample files Quarterly Quick Tips farm management newsletter OSU Quicken Resources

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

18 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 http://ww.indianaglink.com/

19 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 http://www.montana.edu/indianland/factsheets.html

20 Ag In Uncertain Times Website http://www.farmmanagement.org/aginuncertaintimes/

21 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 www.Agtools.org

22

23 RightRisk http://www.rightrisk.org/

24 RightRisk Getting on Track: Ag Records

25

26 RightRisk Getting on Track: Financial Performance

27 Ag Risk & Farm Management Library http://www.agrisk.umn.edu/

28 Ag Lease 101 http://aglease101.org/

29 Farmdoc http://www.farmdoc.illinois.edu/index.html

30 OSU Quicken Resources: www.agecon.okstate.edu/quickenwww.agecon.okstate.edu/quicken Farmdoc:http://www.farmdoc.illinois.edu/index.html Ag Lease 101: http://aglease101.org/ Ag Risk & Farm Management Library: http://www.agrisk.umn.edu/ RightRisk: http://www.rightrisk.org/ Programs and Training Materials: www.Agtools.org Ag In Uncertain Times Website: http://www.farmmanagement.org/aginuncertaintimes/ Inheriting Indian Land Fact Sheets: http://www.montana.edu/indianland/factsheets.html Intertribal Agricultural Council: http://ww.indianaglink.com/ Rural Tax Education: http://ruraltax.org/

31 Keepseagle Tax Clinics & Workshop information Organizations involved in this webinar and clinic series and website addresses: Intertribal Agriculture Council: www.indianaglink.comwww.indianaglink.com Rural Tax Education: www.ruraltax.orgwww.ruraltax.org Extension Risk Management Education Centers Southern: www.srmec.uark.eduwww.srmec.uark.edu Western: www.westrme.wsu.eduwww.westrme.wsu.edu North Central: www.ncrme.orgwww.ncrme.org University of Arkansas School of Law (www.law.uark.edu)www.law.uark.edu Supported also by the Northwest Farm Credit Services & the Keepseagle Class Council Check the Keepseagle website frequently for updates: www.indianfarmclass.com www.indianfarmclass.com

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