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Latest Tax News

  • Ranking States By ARC/PLC Payments


    06/26/2017 04:17 PM ARC and PLC payments are on pace to exceed the old 2008 Farm Bill payments, however, by the end of this farm bill, there may not be that much difference.
  • Single Member LLC is not an Individual
    06/13/2017 09:18 AM A small partnership who files its tax return late can owe substantial penalties. However, if it is a qualified small partnership, it may not owe the penalty. But if it has a single member LLC as an owner, it is likely not a small partnership.
  • Late Portability Elections Available Until January
    06/12/2017 07:55 AM The IRS just announced an automatic extension for estates clear back to 2011 to file a portability election.
  • Emerging Issues in Agricultural Lending
    06/08/2017 10:01 AM I am speaking at a conference in Columbia, Missouri today and am updating for other presentations at the conference.
  • Are you Ready for the New Lease Accounting Rules
    06/05/2017 05:20 PM Although new lease accounting rules do not go into effect for a couple years, it is important to understand how they may change your accounting.
  • How Might Congress Limit Lower Passthrough Rate?
    05/31/2017 11:24 AM Congress and President Trump have proposed lower tax rates for pass-through income. However, this provides incentives to farmers to "game" the system to get lower rates. How might Congress try to prevent this from happening.