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Tax planning and accounting seminars offered

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With lower farm grain and milk prices comes a greater need for tax planning. Paul Dietmann with Badgerland Financial says in a year like this, people have been investing in machinery and structures, perhaps they delayed some grain sales and with lower prices, they may find themselves with a large tax liability without the cash to cover it.

Badgerland is hosting four tax and accounting seminars in December to help farmers with those scenarios. The morning sessions will focus on tax planning while the afternoon sessions will look at the options for farm machinery.  Is it better to buy new, buy used, lease or hire custom work?  Dietmann says they will work with farmers to determine which is best for their particular operation.

Looking ahead, as farmers face lower income in the coming year, there are some things they need to do to put themselves in a better position to weather the trend. He says most people realized the high prices were not going to last and they have themselves “in pretty decent shape.”

Dietmann talks about the sessions:

The sessions are open to all interested parties and there is no charge to attend. They are 10 a.m. to 3 p.m. with lunch provided.  Dates and locations:

  • December 3      Viking Inn Supper Club, Viroqua
  • December 4      Skyline Golf Course, Black River Falls
  • December 10    Holiday Inn Express, Janesville
  • December 11    Veteran’s Center, Beaver Dam

Details available here:

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