Farm Taxes: Partnership Capital Accounts – It’s Complicated – DTN Mar 25, 2020

🕔Mar 25, 2020
Partnership reporting has undergone some drastic changes in the past few years. In 2018, the IRS required that if a partnership tracked capital accounts on a nontax basis, the partnership […]

Lost Co-op Tax Break Seems Headed Towards Reinstatement – DTN Mar 5, 2020

🕔Mar 5, 2020
Leaders of the National Council of Farmer Cooperatives are optimistic IRS officials will adjust Section 199A(g) tax breaks after testimony this week from Treasury Secretary Steve Mnuchin. Reviewing the “Grain […]

Income Taxes: Farmer Filing Deadline Is March 2 Feb 12, 2020

🕔Feb 12, 2020
Agricultural producers have until March 2, to file their 2019 income tax returns without penalty if they have not made estimates. “Producers have until April 15 to file without penalty […]

Taxes: 7 Key Tips from New Retirement Act – DTN Feb 10, 2020

🕔Feb 10, 2020
The Setting Every Community Up for Retirement Enhancement Act of 2019, or SECURE Act, was passed by the House in July 2019 and approved by the Senate on Dec. 19, […]

Farm Business Decisions: Emotions Are Not Your Friend – DTN Jan 9, 2020

🕔Jan 9, 2020
Tax planning always makes me reflect. To say 2019 was a wild ride is an understatement. We saw large swings in commodity prices, increases in dairy prices and optimism in […]

Farm Finances: 2020 Budgets – Don’t Forget Family Living Costs Nov 18, 2019

🕔Nov 18, 2019
In 2018, the total noncapital living expenses of 1,306 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) average was $77,999–or $6,500 a month for each family. […]

Farm Taxes: Steer Away from Cash Accounting? – DTN Nov 5, 2019

🕔Nov 5, 2019
Cash method of accounting is under attack. In February 2017, the IRS issued an Action and Decision letter in response to losing Burnett Ranches LTD v. U.S. Under the Internal […]

North Dakota: Ag Producers Income Tax Management Program, Nov. 15 Oct 29, 2019

🕔Oct 29, 2019
A tax management program will be offered to ag producers and tax preparers from 9 a.m. to noon CST on Nov. 15 at nine interactive video sites in North Dakota. […]

Bankruptcy: Are Taxes Dischargeable? Sep 9, 2019

🕔Sep 9, 2019
When facing financial trouble and bankruptcy, don’t forget about the taxes.  While Chapter 12 bankruptcy contains a provision allowing for the deprioritization of taxes, there is no comparable provision for […]

Taxes: Does the IRS Consider Your Farm a Hobby or a Business? May 8, 2019

🕔May 8, 2019
Understanding tax laws and guidelines can help you avoid unexpected tax consequences on your small farm or ranch. “Your tax return has been selected for examination by our office.” These […]

The Latest


Send press releases to Ernst@Agfax.com.

View All Events


Send press releases to Ernst@Agfax.com.

View All Events