Taxes

There are many resources to help a new and beginning farmer navigate and plan for tax responsibilities. 

  • The Internal Revenue Service (IRS) has a special publication for farmers and ranchers, Publication 225.  
  • For up-to-date information on potential tax credits that may be available to your business, you can also visit http://business.usa.gov/taxes-and-credits 
  • FarmAnswers.org, a production of the University of Minnesota, and funded by USDA’s Beginning Farmer and Rancher Development Grant program (BFRDP) as the national BFRDP clearinghouse, makes available several key tax guides