STE. GENEVIEVE, Mo. – Tax consequences of the previous year are not often thought about until the bill comes due the next year – when nothing can be done. Depending on payment amounts received, livestock sales, and other circumstances, producers could face substantial tax obligations in 2025.
To help farmers navigate these challenges, Rachel Hopkins, University of Missouri Extension Ag Business Specialist, will host a Farm Tax Workshop. This free, in-person event takes place on December 3, 2-4 p.m., at 1300 Progress Parkway, Ste. Genevieve, formerly the Ste Genevieve County Progress Sports Complex, now part of Ste. Genevieve County YMCA.
The workshops will cover a range of topics designed to give producers a better grasp of tax strategies and implications, including:
- Farm lease tax issues
- Installment methods on the farm
- Deducting residual soil fertility
- Agricultural buildings and structures
- Sale of inherited farm assets
- Valuation of unharvested crops
- Tax issues in the One Big Beautiful Bill Act
The workshops are free to attend, but registration is required. To register or for more information, contact Mary Sobba at 573-581-3231, email sobbam@missouri.edu, or visit https://extension.missouri.edu/events/farm-tax-workshop-ste-genevieve.
For those who cannot attend in person, consider attending the December 4, 6:30 pm – 8:30 pm, virtual workshop at https://extension.missouri.edu/events/farm-tax-workshop-online-0