Come on, now that we're here, I will kick things off. It will give Dennis a chance to catch up with us a little bit. As I do a welcome to folks for joining us to this webinar on taxes and beginning farmers since it is that season again this year. And this is an opportunity for you to learn some of the basics about the implications regarding taxation and farming. Dennis has been involved with this topic for some time and was part of a committee that wrote some of the IRS assistance information. So this should provide you a good basis for getting started with this. This webinar is part of the UVM new farmer program webinar series that's funded in part by a grant from the working lands Investment Board. And we're very excited to have you here and very excited to have Dennis able to talk to us. So, Dennis, I'm going to turn this over to you. And I assume you'll forward your slides as needed. Yes, Heidi. I will forward my slides as needed and thank you for being here, folks, today. And thanks for your patience with my bumbling on the computer. I'm going to visit with you some about taxes, primarily federal income taxes and beginning farmers. And I'd like to thank a couple of the folks that provided me with some slides and some guidance on this: Lauren Jarv, an enrolled agent here in St. Johnsbury, Mike Shahbazi from UNH Extension, and Carol's Intel from Farm Credit East in New Hampshire. Let's see, the general rule of the tax system is that if you get it, it's income. And then another general rule is that income is taxable unless it's very specifically excluded. And then an interesting quote that I came...
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990 (Schedule F) Form: What You Should Know
Form 990, Schedule A, Statement Of Income, Credits, Deductions, And Information Returns Information provided on Form 990 is reported and recorded on Form 990, Schedule F — Statement of Activities Outside the United ... CATEGORY: Form 990 — Reporting Exempt Organization — Forms 990, Form 990-EZ, NOT, etc. (a) A nonprofit organization exempt from federal income tax under Section 501(c)(3), Section 501(h), or Section 501(c)(6) must obtain a Form 990 from the IRS. (b) When filing Form 990, enter the names of the officers and directors of the exempt organization. See IRS Publication 557, Form 990-EZ and Nonprofit Organizations, for information with respect to the submission and filing of the Form 990. IRS Form 990 Schedule F Instructions — Express Tax Exempt (a) A nonprofit organization exempt from federal income tax under Section 501(c)(3), Section 501(h), or Section 501(c)(6) must obtain a Form 990 from the IRS. (b) When filing Form 990, Enter the names of the officers and directors of the exempt organization. See IRS Publication 557, Form 990-EZ and Nonprofit Organizations, for information with respect to the submission and filing of the Form 990. CATEGORY: Form 990 — Reporting Exempt Organization — Forms 990, Form 990-EZ, NOT, etc. (a) A nonprofit organization exempt from federal income tax under Section 501(c)(3), Section 501(h), or Section 501(c)(6) must obtain a Form 990 from the IRS. (b) When filing Form 990, Enter the names of the officers and directors of the exempt organization. See IRS Publication 557, Form 990-EZ and Nonprofit Organizations, for information with respect to the submission and filing of the Form 990. Information provided on Form 990 is reported and recorded on Form 990, Schedule F — Statement of Activities Outside the United ... CATEGORY: Form 990 — Reporting Exempt Organization — Forms 990, Form 990-EZ, NOT, etc.
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