Date: Mon, 8 Oct 2012 12:13:44 -0400
From: Debbie Roos
Subject: Register now for farm tax workshop!
The Chatham County Center of North Carolina Cooperative Extension will offer a workshop on Tax Issues for Diversified Farmers from 6:00-9:00 pm on Thursday November 8 in the auditorium of the Agriculture Building in Pittsboro.. The workshop will be taught by North Carolina State University Farm Management Specialist Guido van der Hoeven*. This workshop will offer something for everyone, from beginner to experienced farmers.
Agenda:
Sales Taxes
* When does a farmer pay sales tax on items purchased for the farm and when is a farmer exempt from paying sales tax?
* When is a farmer required to collect and remit sales tax to the state (value-added products, packaged meats, prepared foods, certain value-added produce items, etc.)?
Income Taxes
* We will work through a case study of a diversified farm that produces vegetables, cut flowers, grass-fed beef, and grapes. This farm markets through a CSA, farmers’ markets, and an on-farm stand. Guido will walk participants through how this farm fills out an income tax form and the discussion will reveal tax issues that farmers need to be aware of.
Payroll Taxes
* We will discuss the differences between independent contractors and employees.
* The discussion will contrast the payroll tax issues of independent contractors vs. employees.
Question & Answer Session
* Registered participants will be invited to submit questions in advance that Guido will try to address.
Optional Dinner: Participants will have an opportunity to pre-order dinner from Angelina’s Kitchen if they choose (they will be emailed a limited menu). Angelina will deliver the meals to the auditorium before the workshop and will accept cash or check. Drinks will be provided.
* Guido van der Hoeven is an Extension Specialist/Senior Lecturer at NC State University since 1995 and has experience preparing tax returns for nearly 40 years. Van der Hoeven is an Enrolled Agent and his extension focus is farm management specifically in the areas of taxation, estate planning and intergenerational transfer of productive farms.
Advance registration is required by November 6. The cost of the workshop is $15 and includes handouts. To register, visit Cooperative Extension’s Growing Small Farms website and download a registration form: http://bit.ly/qb7UB
Save the date for these upcoming Cooperative Extension workshops:
November 7: Honey Bee Nutrition – register now at http://bit.ly/qb7UB
December 5: Fiber Animal Production from 9:00 am-5:00 pm in Silk Hope – registration will be announced soon
December 12: GAP Certification for the Small Farm from 1:00-5:00 pm in Pittsboro – registration will be announced soon
February 28, 2013: Piedmont Medicinal Herb Production* from 9:00 am-5:00 pm in Silk Hope – registration will be announced soon
*originally scheduled for November 2012 – this is the new date
Debbie Roos
Agricultural Extension Agent
Chatham County Center
North Carolina Cooperative Extension
919.542.8202
debbie_roos@ncsu.edu
www.growingsmallfarms.org
www.facebook.com/debbie.roos.nc
www.twitter.com/GrowSmallFarms
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