UH-CTAHR hosts farm tax classes


The University of Hawaii at Manoa College of Tropical Agriculture and Human Resources launches a series of free farm tax workshops for ranchers and growers this week on the Big Island.

To sign up for the Risk Management Workshops, please call 887-6183 to RSVP, or email mddiaz@hawaii.edu.

The first session will be on Wednesday, May 8, from 6 to 8 p.m. in the Waimea Civic Center conference room in Waimea. The second will be Thursday, May 9, from 5:30 to 7:30 p.m. at the Kainaliu Cooperative Extension Service in Kona. The third will be on Wednesday, May 22, from 5:30 to 7:30 p.m. in the Aupuni Center conference room in Hilo. The final Big Island session will be on Thursday, May 23, from 5:30 to 7:30 p.m. at Pahala Community Center.

Risk Management Hawaii program of UH-CTAHR is bringing back Michael Holl to give an updated lesson for farmers and ranchers about business taxes. This workshop will help you manage your labor, financial and legal risks. Holl is an enrolled agent who is a federally-authorized tax practitioner, licensed by the U.S. Department of the Treasury to negotiate with the IRS on behalf of taxpayers.

Farming and Taxes is a workshop specifically designed to enable Hawaii farmers to lower their tax liabilities by a better understanding of: business deductions; tax preparation and record keeping to minimize taxes and chances of an audit; business entities for your farm; how employment laws and independent contractor requirements affect your business; how to obtain relief from 75-90 percent of federal penalties for violating independent contractor/employment laws; and special provisions in the tax code regarding farm income averaging to significantly lower taxes resulting from “bumper” crops.

 

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