By Scout Nelson
South Dakota Farm Bureau is hosting free informational meetings on understanding your tax bill. These sessions are open to the public and will feature experts to answer your tax-related questions.
What You'll Learn:
- Tax Code Updates: Stay informed about upcoming tax law changes impacting estate planning, particularly relevant for farm and ranch businesses.
- Understanding Your Tax Bill: Gain insights into what makes up your overall tax bill and how it's calculated.
- Tax Resources: Learn where to find additional resources and assistance with your taxes in South Dakota.
Focus on Farm & Ranch Taxes:
The sessions will address the Tax Cuts and Jobs Act's impact on farm and ranch businesses. This act, set to expire in 2025, offers tax benefits like lower rates and provisions for pass-through businesses, which account for over 98% of farms and ranches. The potential expiration of these benefits could lead to tax increases for farmers and ranchers.
Property Tax Information:
Representatives from the South Dakota Department of Revenue will be available to answer questions about property taxes. Learn how your property tax bill is calculated and where to seek help if you have concerns.
Meeting Details:
- Dates: July 24 & 25, 2024
- Free and open to the public
- Refreshments served
Meeting Locations:
July 24th:
- Hot Springs, SD (10:30 AM MT) - Mueller Civic Center, 801 South 6th Street
- Faith, SD (3:30 PM MT) - Legion Hall, 102 3rd Street
July 25th:
- Clark, SD (10:30 AM CT) - 120 North Commercial Street
- Sioux Falls, SD (3:30 PM CT) - McCrossan Boys Ranch, 47135 260th Street
For more information, contact Matthew Bogue at Matthew@sdfbf.org or 605-377-8833.
Photo Credit: pexels-nataliya-vaitkevich
Categories: South Dakota, Education, Government & Policy