OREGON STATE UNIVERSITY

NEW PUBLICATION TARGETS FISHING FAMILY FINANCES

08/09/1996

CORVALLIS - It's never too early to start planning for tax time, especially if you're the owner of a small business. And the same goes for organizing family records so you can quickly find information you need.

A pair of publications produced by Oregon State University and the OSU-based Oregon Sea Grant offer tax and record-keeping advice for families - especially those whose members own or work on fishing boats.

Both publications were produced for the Fishing Families Project, a Sea Grant outreach effort aimed at helping fishing families connect with resources that can help them contend with the economic and social cycles common to their industry.

"Tax Information for Crewmen on Commercial Fishing Boats" is a one-page fact sheet with up-to-date information about IRS requirements for fishing crews, who are usually considered self-employed and thus not subject to employee withholding. The sheet touches on record-keeping, IRS forms and how and when to seek professional tax advice.

"Fishing and Business Records Checklist for Fishing Families" is an 11-page, fill-in-the-blanks manual that fishing families can use to enter information about boat records, family members, important personal and financial papers, insurance, savings and property records and other items that are useful for financial planning and in emergencies.

Oregon State University's Alice Mills Morrow prepared the checklist with help from OSU Extension Sea Grant agent Ginny Goblirsch, a member of the Fishing Families Project and herself a fisherman's wife.

Both documents are available free of charge from the coastal county offices of the OSU Extension Service. Copies also may be ordered through regional Fishing Family Coordinators, who work with the Fishing Families Project in the south, central and north coast regions. They are: North Coast:

Dyan Hartill, 541-325-7372 Central Coast: Connie Kennedy, 541-574-0082 South Coast:

Linda Brown, 541-469-8890