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2015 Farm In come Tax SchoolSUMMARY OF TAX RATES, TABLES & OFTEN USED ITEMS ADDITIONAL Materials: A. David Bible James L. Goodman Daniel L. FretheimFEDERAL INCOME TAX INFORMATION FOR 2015 RETURNS
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What is farm income tax?
Farm income tax is a tax on the income generated from farm-related activities.
Who is required to file farm income tax?
Individuals or businesses that generate income from farming activities are required to file farm income tax.
How to fill out farm income tax?
Farm income tax can be filled out by using the relevant tax forms provided by the tax authorities and reporting all income and expenses related to farming activities.
What is the purpose of farm income tax?
The purpose of farm income tax is to ensure that individuals or businesses involved in farming activities pay their fair share of taxes on the income generated.
What information must be reported on farm income tax?
Information such as income from sales of agricultural products, expenses related to farming activities, and any other sources of farm-related income must be reported on farm income tax.
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