In November 2015, more changes were made to Social Security than have been made in many years.
I continue to get questions on how to calculate the cost basis of farmland or other assets after someone passes away.
Do you provide housing and meals to your employees?
Farm succession planning is a process that should be started sooner rather than later.
Every once in a while, I mention to my wife I am worth more dead than alive, and she will respond “I know, but I don’t really want to find out.” This saying also applies to farm income taxes.
Paul Neiffer is a tax accountant with LarsonAllen LLP and author of the blog The Farm CPA. He grew up on a wheat farm in Washington and owns a corn and soybean farm in Missouri.
Contact him at firstname.lastname@example.org.