Farm Policy: Interest Deduction Tax Proposal Concerns Farmers Jun 26, 2017

🕔Jun 26, 2017Richard Rubin reported yesterday at The Wall Street Journal Online that, “Republicans looking to rewrite the U.S. tax code are taking aim at one of the foundations of modern finance—the […]

Ask the Taxman: Like-Kind Exchanges; Housing Deduction; LLC Value – DTN Feb 8, 2017

🕔Feb 8, 2017QUESTION Our parents left their land to my brother, sister and me. We have a crop-share arrangement with a young farmer and are working to divide the properties. Since we […]

Farm Tax Filing: Be Aware of Changes Before Completing Returns Jan 25, 2017

🕔Jan 25, 2017Although it is unclear what the future will bring, some changes have already been put into law that will affect tax returns filed for fiscal 2016. “One major change for […]

Farm Taxes: 5 Tasks to Consider Before January 1 Dec 14, 2016

🕔Dec 14, 2016Traditionally, farmers try to do tax planning to limit their tax liability. With the downturn in the agricultural economy, limiting tax liability may not be an issue, but tax planning is still […]

Farm Taxes: Accelerated Depreciation and Machinery Purchases Dec 2, 2016

🕔Dec 2, 2016It is a common tax management strategy to use accelerated depreciation, which includes bonus depreciation and section 179 depreciation, to reduce taxable income on crop farms. For 2016, up to […]

Farm Taxes: Year End Tips and Don’t Expect Instant Answers – DTN Nov 30, 2016

🕔Nov 30, 2016As tax preparation season begins, here are a few thoughts that may be of benefit at year-end: ASSET EXPENSING Most ag producers are well aware of the $500,000 Section 179 […]

Nebraska: Cash Flow and Tax Planning Nov 8, 2016

🕔Nov 8, 2016Defining Farm Income? There are many definitions of income for a farm operation and they’re all important to a successful farm. Taxable income is the amount that is recognized on […]

North Dakota: Ag Income Tax Management Program, Nov. 28 Nov 7, 2016

🕔Nov 7, 2016A tax management program will be offered to producers and tax preparers from 9 a.m. to noon CST on Nov. 28 at nine interactive video sites in North Dakota. The […]

Losing Money This Year? How To Do A Tax “Carryback” – DTN Nov 1, 2016

🕔Nov 1, 2016I have written in the past about how the tax code contains special opportunities for farm tax returns that run in the red. With the ag economy continuing to suffer […]

Farm Tax Planning in Low Income Years – Video Oct 31, 2016

🕔Oct 31, 2016Producers often feel there is no need to do tax planning in years when there is no profit, but in many ways, it’s more important to do tax planning in […]

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