Farm Start Up Decisions for Taxes

Farm Start Up Decisions for Taxes Presented by Lisa Jones, Program Coordinator, WVU Extension Service Small Farm Center This video covers important start up decisions that farmers make, which impact taxes. It includes questions to ask as a new farm business owner with reference to an IRS chart, how to get a business registered, and recordkeeping decisions. Here is a guide from the IRS for new businesses on questions to ask yourself as a new business owner, https://www.irs.gov/publications/p583... West Virginia Secretary of State New Business Registration, https://sos.wv.gov/business/pages/Reg... Apply for an Employer Identification Number (EIN) Online, https://www.irs.gov/businesses/small-... University of Maine Extension Farm Account Book, https://extension.umaine.edu/beginnin... West Virginia State Tax Office, SALES AND USE TAX FOR AGRICULTURAL PRODUCERS, https://tax.wv.gov/Documents/TSD/tsd3... West Virginia State Tax Department, https://tax.wv.gov This is material is based upon work supported by USDA/NIFA under Award Number 2018-70027-28588. This event is sponsored by the Northeast Extension Risk Management Education Center. -------------------------------------------- WVU Extension Service Small Farm Center does not provide professional tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. -------------------------------------------- Country Cue 1 by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/...) Artist: http://audionautix.com Subscribe and hit the bell to see a new videos from WVU Extension Service Agriculture & Natural Resources Unit.