Develop Skills to Assess and Manage On-Farm Risk and Business Structure
Understanding the Business, Tax, and Regulatory Implications of Your Farm
an online course through the Northeast Beginning Farmer Project
Mon. March 7 – April 11, 2016, with webinars every Monday evening from 7:00-8:30pm.
This course is designed to help aspiring or beginning farmers better assess and manage a variety of risks that farmers face in operating their farms. Throughout the six week period, topics essential for operating a farm business will be discussed. Participants will learn about insurance coverages, types of business structures and tax information.
The target audience includes aspiring or beginning farmers living and/or farming in NYS and seeking to learn about the commercial, legal and tax implications of farming. This is an intro-level course. Farmers outside NYS can take the course, but should know that extra legwork will be required on the part of the farmer to determine the parallel agencies and regulations that apply in their state.
At the completion of this course, you will know how to:
- Describe the five risks that farmers need to regularly address
- Comprehend the legal liabilities of operating a farm or selling agricultural products
- Find the resources necessary to better understand income and sales tax regulations for operating a farm.
- Evaluate various forms of business ownership and determine which will be best for you at this time
- Identify rules and regulations (for marketing, food safety, facilities, etc) that are pertinent to the type of agricultural enterprise you plan to operate
- Use insurance as a risk management tool
Stephen Hadcock, Extension Educator with Capital Area Agricultural and Horticultural Program, NY
Lynn Bliven, Extension Educator with Cornell Cooperative Extension of Allegany County, NY
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