October 9, 2002 | By: Haven Miller
ELIZABETHTOWN, Ky.

Tax laws are always changing, including those that apply specifically to agricultural enterprises. To keep tax preparers and taxpayers up to date on what’s new, the University of Kentucky Department of Agricultural Economics has scheduled a series of tax seminars.

“We’ve designed these seminars for both people who prepare taxes and those  who want to be more knowledgeable about agriculture-related tax laws,” said Rick Costin, UK area farm management specialist.

The one-day seminars will cover a variety of important tax issues. Topics include tax decisions regarding government payments, agriculture labor taxation, self employment issues, tax planning, and many other timely subjects.

“Many farmers think there’s no need for tax planning, particularly in a year when they’re losing money, but with proper tax planning in November or December a farmer can actually save money and that’s why it’s important to be familiar with the laws and take time for planning,”  Costin said.

UK area farm management specialists will teach the seminars.  They will use a special workbook that covers agricultural tax issues and form preparation.  Participants will be encouraged to ask questions.

“We’ll have them write down their questions and hand them in so that a question can be answered in a general way without discussing someone’s personal finances,” Costin said.

The seminars, which last about six hours, will be held at six locations: November 13, Henderson County Extension office; November 14, Hopkins County Extension office; November 15, Hardin County Extension office; November 20, Graves County Extension office; November 26, Adair County Extension office; and December 3, Montgomery County Extension office.

The seminar costs $60 to cover materials.  Lunch is not provided.  To pre-register contact the Lincoln Trail Farm Business Management Office at 270-737-4799, or contact your county Cooperative Extension office for registration information.

Contact: 

Rick Costin, 270-737-4799