Ag Taxes: 3 Strategies for Navigating the New Section 199A

🕔Feb 5, 2019This tax season will be the first time cooperatives and their patrons will consider the income tax consequences of the Tax Cuts and Jobs Act of 2017 (TCJA). A key […]

Farm Taxes: Charitable Giving – Standard Deduction Has Changed – DTN

🕔Dec 1, 2018The 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 Taxes: Good Time to Get Out of Your C-Corp with Less Penalties – DTN

🕔Nov 23, 2018There was a time when C-corporations made a lot of sense for farmers, but as tax laws changed and the benefits eroded, farmers found changing their business structure could be […]

Farm Taxes: Equipment Trade-Ins – Navigating State vs. Federal Rules – DTN

🕔Nov 21, 2018Tax treatment of equipment trade-ins got a tune-up in 2017’s tax reform legislation. Experts say provisions restricting like-kind exchanges for machinery are offset by more generous rules on depreciation, resulting […]

Tax Cuts, Jobs Act: What are the Benefits for Farmers?

🕔Jul 27, 2018Robert Tufts, a visiting professor with the Alabama Cooperative Extension System, says Section 199A, the new qualified business income deduction is the most significant change for farmers in the Tax […]

Section 199 Tax Mess Getting Untangled, But Also Held Hostage

🕔Mar 14, 2018It looks like Congress has a possible fix to the Section 199A cooperative deduction in the recently passed tax bill.  However, the fix is being stalled in the Senate. The […]

Illinois Farm Business: Capital Purchases Down? Expect More Tax Liability.

🕔Dec 6, 2017Many Illinois grain farmers have reduced capital purchases in recent years, with prospects for further cuts in 2017 and future years. Overall, reducing capital purchases is a prudent step in […]

2017 Tax Reform: How Would Proposals Affect Farmers?

🕔Oct 23, 2017It looks more likely each day that Congress will pass some sort of tax reform this session. This article looks at how the current tax reform changes proposed by President […]

Farm Taxes: The Devil Really is in the Details When it Come to the Tax Code – DTN

🕔Oct 10, 2017Farmers and ranchers learn early in their careers that Congress has carved out special tax provisions for their industry. But, a farmer can be defined differently for different provisions. In […]

Ask the Tax Man: Charitable Donations are Tricky, Especially When it’s Property – DTN

🕔Sep 20, 2017It’s becoming routine to see court cases backing the IRS against taxpayers who trip over the rules when donating assets to charity. Checks are difficult enough. Any single contribution of […]

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