As I write this column, Congress has teed up a final tax bill, which likely will have passed by the time you read this.
One of the better tax credits relates to increasing research and development (R&D) in your farm operation. Congress has expanded the availability of the credit, and many farmers now qualify to take it.
Farmers get their fair share of cases heard by the U.S. Tax Court, but the decision in the Martin case announced Sept. 27 is particularly significant.
Most larger family farms have been structured as a partnership for FSA payment-limitation purposes.
Here are some common options available to increase farmers’ taxable income after year-end.
The title of this month’s column might seem counterintuitive to most producers. But there are many times when farmers would like to increase their income.
The Financial Accounting Standards Board issued new guidance for leases in 2016.
Paul Neiffer is a tax accountant with CliftonLarsonAllen LLP and author of the blog The Farm CPA. He grew up on a wheat farm in Washington.
Contact him at firstname.lastname@example.org.