Understanding new tax laws and how they affect you in 2007 and 2008 is important if you are a farmer who wants to improve your bottom line. You can gain that information by attending a free tax seminar for farmers on November 20, broadcast over the statewide Iowa Communications Network or ICN.
The seminar runs from 7 p.m. to 9:30 p.m. and you can attend at the ICN location nearest you. There are a series of ICN sites across the state where you can go and there is no charge to attend.
Roger McEowen, professor of Agricultural Law at Iowa State University, will present information on how the new tax laws affect agriculture. Charles Brown, a farm business specialist for Iowa Farm Bureau, will discuss income tax planning strategies. Farmers who attend at ICN sites will be able to ask questions live.
For more information about the 2007 Farm Income Tax Seminar or for a list of ICN sites near you, call 515-225-5751. Or go to www.iowafarmbureau.com and look under Programs/Farm Management.
This is the 14th year Iowa Farm Bureau has used the ICN to update farmers on farm income tax planning and IRS farm audit strategies. In the last 12 months, President Bush signed both the Tax Relief and Health Care Act and the Small Business Work Opportunity Act in law. Both affect tax filings for taxpayers.