Taxes
New tax rules could let farmers who sell land defer, reduce and even wipe out capital gains tax starting Jan. 1, 2027.
Farm CPA Paul Neiffer says several recent federal program and tax-related updates could have meaningful financial implications for producers, especially around SDRP payment limits, 2025 ARC/PLC payment expectations, standard mileage rates and payment-limit guidance.
In late June, the agency revised its technical guidelines for biofuel feedstocks related to the 45z tax credit.
Paul Neiffer details how the program deadline being extended to August 12, 2026, Stage 2 means farmers will continue to receive funds as USDA updates its database.
While not necessarily new, market factors and growing awareness are putting the spotlight on residual soil fertility deductions.
The integration of artificial intelligence into financial systems is ushering in a more sophisticated era of tax management — one where software handles the heavy lifting.
In addition to higher farm payments and better crop insurance, Paul Neiffer says the most overlooked impact of the One Big Beautiful Bill could be how farmers structure their operations.
With the federal estate tax exemption at historically high levels, most family farms are no longer at risk of paying federal estate tax. Shift your focus to income tax planning and preserving the step-up in basis at death.