Farm Taxes: Partnership Capital Accounts – It’s Complicated – DTN Mar 25, 2020

🕔Mar 25, 2020
Partnership reporting has undergone some drastic changes in the past few years. In 2018, the IRS required that if a partnership tracked capital accounts on a nontax basis, the partnership […]

Income Taxes – Year-End Planning Checklist for Ag Producers Dec 13, 2019

🕔Dec 13, 2019
Agricultural producers should do tax planning before the end of the year. “With the difficult and late harvest, producers haven’t had much time to think about year-end tax planning, but […]

Farm Taxes: Steer Away from Cash Accounting? – DTN Nov 5, 2019

🕔Nov 5, 2019
Cash method of accounting is under attack. In February 2017, the IRS issued an Action and Decision letter in response to losing Burnett Ranches LTD v. U.S. Under the Internal […]

North Dakota: Ag Producers Income Tax Management Program, Nov. 15 Oct 29, 2019

🕔Oct 29, 2019
A tax management program will be offered to ag producers and tax preparers from 9 a.m. to noon CST on Nov. 15 at nine interactive video sites in North Dakota. […]

Bankruptcy: Are Taxes Dischargeable? Sep 9, 2019

🕔Sep 9, 2019
When facing financial trouble and bankruptcy, don’t forget about the taxes.  While Chapter 12 bankruptcy contains a provision allowing for the deprioritization of taxes, there is no comparable provision for […]

Taxes: Does the IRS Consider Your Farm a Hobby or a Business? May 8, 2019

🕔May 8, 2019
Understanding tax laws and guidelines can help you avoid unexpected tax consequences on your small farm or ranch. “Your tax return has been selected for examination by our office.” These […]

Texas: Ag Law Program, San Antonio, June 7 Apr 30, 2019

🕔Apr 30, 2019
The Texas A&M AgriLife Extension Service will present “Owning Your Piece of Texas: Agricultural Laws Texas Landowners Need to Know” on June 7 in San Antonio. This free program is […]

Farmer Tax Credits: 4 To Consider Going Forward – DTN Mar 5, 2019

🕔Mar 5, 2019
I’m writing this column at 10 p.m. at night after a long week reviewing tax returns. Although tax reform has produced some mixed results, I’m still finding benefits for my […]

IRS Waives Estimated Tax Penalty for Farmers Mar 1, 2019

🕔Mar 1, 2019
The Internal Revenue Service (IRS) has waived the estimated tax penalty for qualifying farmers who file their return and pay any taxes due by April 15, 2019. “Typically, agricultural producers […]

Ag Taxes: 3 Strategies for Navigating the New Section 199A Feb 5, 2019

🕔Feb 5, 2019
This tax season will be the first time cooperatives and their patrons will consider the income tax consequences of the Tax Cuts and Jobs Act of 2017 (TCJA). A key […]

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