New Legislation Would Impact Tax on Farm Estates, Inherited Gains Apr 7, 2021

🕔Apr 7, 2021
The U.S. Congress is debating two sets of new legislation that would impact the tax on farmer estates and inherited gains, indicative of the momentum for changes to the current […]

Farm Taxes: 7 Red Flags That Can Trigger Audits – DTN Feb 19, 2020

🕔Feb 19, 2020
Tax breaks commonly used by farmers and ranchers also tend to raise red flags with the Internal Revenue Service, increasing the likelihood of an audit. “In general, tax returns with […]

Alabama: Irrigation Tax Credit for Farmers Dec 23, 2019

🕔Dec 23, 2019
Some Alabama farmers could see a break on their taxes thanks to a new tax credit. This credit allows farmer to count certain costs associated with irrigation, including fuel conversions, […]

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 […]

Lower Farm Income: 6 Ways To Cope – DTN Jul 9, 2019

🕔Jul 9, 2019
Now that tax season is over, I’m visiting my clients and reviewing their year-to-date financial statements. One discussion point is basic blocking and tackling. I recently read that farm income […]

Farm Taxes: Charitable Giving – Standard Deduction Has Changed – DTN Dec 1, 2018

🕔Dec 1, 2018
The holiday season is upon us, and ’tis the season for giving. But with the new tax laws, the hurdle to deduct charitable contributions became higher. The standard deduction for […]

Farm Finances: End of Year Tax Planning for 2018 Sep 24, 2018

🕔Sep 24, 2018
Harvest is consuming most of your attention right now, but consider taking some time to review your accounting records in anticipation of planning for the end of the year. With […]

New Tax Act: Not as Simple as it Looks – Section 199a – 20% Pass-Through Aug 27, 2018

🕔Aug 27, 2018
This article addresses Section 199a of the Tax Cuts and Jobs Act (TCJA) which was passed in December 2017. For more information about other changes in the tax law please […]

Nebraska: Tax Cuts – Big Changes Ahead – Plan Now Aug 27, 2018

🕔Aug 27, 2018
The dust still hasn’t completely settled from the changes made in December 2017 to the tax code by the Tax Cuts and Jobs Act (TCJA), but we are starting to […]

Farm Business: Taxes – Who is a ‘Related’ Person? Why It Matters May 22, 2018

🕔May 22, 2018
Most farmers and ranchers have extended family members who are also in the business and from time to time they likely do business with each other. What many might not […]

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