Ag Taxes: Implications of Partnership to S Corporation Conversions – DTN Apr 6, 2022

🕔Apr 6, 2022
With farm income soaring, some farmers are looking for ways to reduce their taxes. One question I’ve been asked is if it’s a good idea to switch a farm partnership […]

Taxes: When Can Farmers Deduct Prepaid Expenses? – DTN Feb 18, 2022

🕔Feb 18, 2022
With high crop prices and high input costs (especially this past November/December), understanding how prepaid expenses work is critical. I know many farmers do their own tax planning without realizing […]

Ag Taxes: How to Determine Worker Classification – DTN Jan 22, 2022

🕔Jan 22, 2022
Farms are getting bigger and bigger. What does this mean? Farmers need more help. Sometimes, the best solution is to hire someone to plant, spray and/or harvest. Other times, it’s […]

Ag Taxes: Implications of Rising Cybercrime – DTN Dec 29, 2021

🕔Dec 29, 2021
I was at a conference recently where a cybersecurity adviser from the Department of Homeland Security discussed cybercrime in agriculture. Cybercrime in agribusiness is on the rise, and no one […]

Ag Taxes: Should You Switch to a C Corporation? – DTN Oct 6, 2021

🕔Oct 6, 2021
For the fiscal year 2021, the Congressional Budget Office projects tax revenue collected from corporations at $238 billion. To put that into perspective, corporations account for just 6% of all […]

Ag Taxes: Looking Over the American Families Plan – DTN Jun 18, 2021

🕔Jun 18, 2021
President Joe Biden and Congress have been actively pushing to tax the rich, but who are the rich? I think about this often and wonder how representatives in Washington, D.C., […]

Ag Taxes: Independent-Contractor Classification – Possible Impacts of New Legislation – DTN Apr 16, 2021

🕔Apr 16, 2021
Prior to entering office, President Joe Biden issued a comprehensive labor plan. Within his plan was a call to enforce current laws against employers that misclassify employees as independent contractors. […]

Ag Taxes: How Will Biden’s Plan Affect Farmers? – DTN Feb 8, 2021

🕔Feb 8, 2021
Probably the No. 1 question I got in 2020 was, “What is the Biden Tax Plan [BTP], and how will it impact farms?” (At the time of writing this article, […]

Ag Taxes: Involuntary Property Conversions – What Are They, How Do They Work? – DTN Feb 3, 2021

🕔Feb 3, 2021
Some farmers would call 2020 a disaster. COVID, weather, election: What else could go wrong? Since we are discussing things that have gone wrong, let’s talk about involuntary conversions. Let’s […]

Estate Planning: Stepped-Up Basis – What Is It, Why Is It Important – DTN Jan 5, 2021

🕔Jan 5, 2021
With all the talk about potential changes to estate tax laws, I thought it would be a good idea to go back to the basics and discuss stepped-up basis. When […]

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