Farm Taxes: Transitioning Out of a Partnership or S Corporation – DTN Aug 18, 2020

🕔Aug 18, 2020
I’ve had conversations with several clients recently. Because of the stress and uncertainty, they would like to transition out of farming. Sometimes, this means transitioning to the next generation, and […]

Ag Taxes: What to Know About Debt Forgiveness – DTN Jul 28, 2020

🕔Jul 28, 2020
As I’m writing this article, we are still waiting for guidance on PPP (Paycheck Protection Program) loan forgiveness. Based on what is being discussed in Congress, there will be some […]

Ag Taxes: Limits on Deducting Farm Losses Jul 22, 2020

🕔Jul 22, 2020
The typical farming couple has both off-farm and farm income. The farming operation probably reports a loss as often as it reports profits. The loss is usually deducted against off-farm […]

Ag Tax Provisions from the Coronavirus Aid, Relief, and Economic Security Act – DTN Jun 19, 2020

🕔Jun 19, 2020
These are strange times. Back in January, many of our agribusiness subindustries were poised to have a good year. We reached a trade agreement with China. Milk and cattle prices […]

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 […]

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 […]

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