Farm Equipment Leasing: New Tax Code Adds A Wrinkle – DTN

🕔Mar 14, 2018I’m sitting here reviewing tax returns and thinking about questions clients have asked throughout the busy season. With the low commodity prices and tax law changes, many clients have asked […]

Farm Business: Digital Farm Records Made Easy

🕔Feb 12, 2018Everyone knows the feeling. Boxes upon boxes fill up your garage, closet, attic, and about every other conceivable location, storing all those precious receipts and invoices. For the IRS you […]

Farm Taxes: Who Needs a 1099?

🕔Aug 14, 2017After the first of the year, many farmers and ranchers issue IRS 1099 forms as required by law. The big question becomes “Who am I required to send one to?” There […]

Ask the Tax Man: Trading Into a Lease; IRS Notices; Pending Tax Legislation – DTN

🕔Jun 5, 2017Here are several recent experiences that have lessons, plus a thought on the upcoming tax legislation: TRADING INTO A LEASE With cash-flow tight and income taxes not an issue for […]

Farm Taxes: Conservation Easements are Viable Tool for Farmland Owners – DTN

🕔Mar 17, 2017Conservation easements (CEs) are getting a bad name. A few months ago, the IRS teed up marketed deals as a Form 8886 disclosure item in tax returns. That enters the […]

Ask the Taxman: Like-Kind Exchanges; Housing Deduction; LLC Value – DTN

🕔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 Taxes: Heads Up! Major Change in Family Valuation Discounts – DTN

🕔Oct 10, 2016In early August, the IRS released draft regulations that, when effective, will impose major restrictions on valuation discounts of family-controlled entities. This represents a major change in our tax system, […]

Farm Business: Does the IRS Consider You a Farmer? Maybe not. – DTN

🕔Apr 1, 2016Being categorized as a farmer or rancher among your peers or with the USDA is one matter. However, whether all of your activities are farming for federal tax purposes can […]

CRP Payments for Non-Farmers – Tax Questions

🕔Nov 24, 2015Overview The recent non-acquiescence issued by the IRS in the decision of the U.S. Court of Appeals for the Eighth Circuit in Morehouse v. Comr. has raised a question among some […]

Transactions: Don’t Fall Victim to These 5 Common Tax Mistakes – DTN

🕔Sep 10, 2015In last month’s column, I focused on troubles that can arise with do-it-yourself tax filings and interactions with the IRS. Here are more, but this time focusing on business transactions […]

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