Tax course fills a gap for CPAs who work with farmers
Jerry Moline, Certified Public Accountant (CPA) in Slayton, does personal income tax returns for a variety of clients. For farmers, it’s especially complicated. Many farmers have jobs off the farm as well as farm business income and expenses like farm machinery.
Additionally, farmers rely on their tax records to take to the bank and build their case for borrowing. Bankers will require their tax returns because the signed legal documents are considered the best records. Despite the importance of accurate farm tax records, Moline said, “There is not a lot of help out there for CPAs on the farm side.”
Extension is the exception, thanks to tax education courses offered under the guidance and expertise of Rob Holcomb, Extension agricultural business management educator.
“Rob’s an excellent teacher,” said Moline. “I take his course every year because they pull together hot topics and bring in expert guest speakers from the IRS and the state to share changes in law. I’ve never gone to one of these classes where I didn’t learn something.”
Highlights
- RSP impact: With support from two CERTs Seed Grants, the Slayton Library and Senior Center — as well as the fairgrounds 4-H building — will receive a retrofit of all interior and exterior lighting to LED fixtures with a longer life and no ballast maintenance.
- The Cameron 4-H Club gained hands-on experience in consumer science by budgeting and shopping for a thoughtful mix of essential goods and special treats for the Murray County Food Shelf.
- 4-H Camp at Lake Shetek serves youth in grades 3-6 and provides leadership opportunities as camp counselors for those in grades 9-12.
- U of M Farm Family of the Year: The Holm family manages 180 head of beef cattle, focusing on genetics for their growing show cattle business. All three children participate in 4-H projects, learning valuable life lessons about hard work, dedication, patience and grace through livestock involvement.
- Master Gardener volunteers planted and maintain two perennial flower gardens on public property in Slayton.
- SuperShelf: Murray County Food Shelf
- The Climate Adaptation Partnership is helping characterize future flood and drought extremes in the Cottonwood River watershed, equipping natural resource managers, farmers and communities with education and resources to inform resilience strategies.
- Extension’s agricultural business management team delivered a farm rent workshop via Zoom with a watch party in Slayton. Farmland rental rates are among the largest input costs for farmers. Landlords, farmers and
agribusiness professionals commonly attend.
Murray County office
Extension has 14 regional offices supporting all 87 counties in Minnesota.
Murray County partners with Extension to deliver practical education and research you can use at home, at work and in your community. More about Extension in our county.
About the Minnesota 87 project
Spend time in any Minnesota county, and you will almost certainly encounter University of Minnesota Extension. Our faculty and staff, volunteers, participants, alumni and partners are woven into the fabric of rural, urban and suburban Minnesota life. This project showcases Extension in action through photos, stories and a sampling of the many ways Extension has touched the lives of people in every county.