Farm Tax Planning – Tips to Limit Your Tax Liability
Join us to learn more about tax basics for your farm. Learn more about records, basic tax information, and get a jump start on 2016!
Who are the Presenters?
Lori Oraschin will be your tax professional sharing her years of experience with you for this event.
Trey and Deirdre Flemming of Two Gander Farm will provide a tour of their farm and share best practices they’ve implemented.
Who Should Attend?
This seminar is geared toward any full time or part-time farmers.
5:30 – 6:00 – Registration
6:00- 7:00 – Tax Basics for Your Farm Business
7:00 – 8:00 – Farm Tour of Two Gander Farm with Trey and Deirdre
Refreshments will be provided. Registration is limited to 25 participants.
What are the Topics?
- Maximizing a tax bracket
- Farm Income averaging
- Paying your children
- Farm Property Recovery Periods (Depreciation)
- Single Purpose v/s General Purpose Barns
- “Safe Harbor” for listed Assets
- Buying and deducting livestock and equipment purchased on credit
- How to use (IRS sect 179) the expensing of capital purchases
- BONUS Depreciation
- And more – be sure to bring your questions.
About Lori Oraschin
Lori originally owned & operated a 450-acre dairy farm in upstate NY. She graduated from DeSales University with a BS in Accounting, and was the lead tax person for a Farm Credit branch office in NJ for 13 years. She began her practice in 2001, specializing in agricultural, and small business taxation. She has presented many seminars at agricultural venues. Lori and her husband Bill moved to Quakertown, PA in December 2007, and reside there with 50 alpacas at Harley Hill Farm. They are also the 4-H leaders of the Pronking Pacas Club here in Bucks County.