tools for agricultural producers: keepseagle follow-up tax clinics/workshops trent teegerstrom,...
TRANSCRIPT
Tools for Agricultural Producers: Keepseagle Follow-up Tax Clinics/Workshops
Trent Teegerstrom, University of ArizonaDirector of Arizona Tribal Extension Programs & Associate Extension SpecialistDepartment of Ag and Resource EconomicsP.O. Box 210023Tucson, AZ [email protected]
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
Rural Tax Educationhttp://ruraltax.org/
Tax Fact Sheet Topicshttp://ruraltax.org/
Tax Fact Sheet Topicshttp://ruraltax.org/
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/quickenDamona Doye
Sarkeys Distinguished ProfessorExtension 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 www.agecon.okstate.edu/quicken
• $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
Intertribal Agricultural Council http://ww.indianaglink.com/
Inheriting Indian Land Fact Sheetshttp://www.montana.edu/indianland/factsheets.html
Ag In Uncertain Times Websitehttp://www.farmmanagement.org/aginuncertaintimes/
Programs and Training Materials www.Agtools.org
RightRiskhttp://www.rightrisk.org/
RightRiskGetting on Track: Ag Records
RightRiskGetting on Track: Ag Records
RightRiskGetting on Track: Financial Performance
Ag Risk & Farm Management Libraryhttp://www.agrisk.umn.edu/
Ag Lease 101http://aglease101.org/
Farmdochttp://www.farmdoc.illinois.edu/index.html
OSU Quicken Resources: www.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/
Keepseagle Tax Clinics &Workshop information
• Organizations involved in this webinar and clinic series and website addresses:• Intertribal Agriculture Council: www.indianaglink.com• Rural Tax Education: www.ruraltax.org• Extension Risk Management Education Centers• Southern: www.srmec.uark.edu• Western: www.westrme.wsu.edu• North Central: www.ncrme.org
• University of Arkansas School of Law (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