Taxes
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.
People often think they can figure out their estate plan later – when they are older, richer, sicker, free from debt and the list goes on. Expert Polly Dobbs says you should have a plan in place that fits today’s circumstances.
Taxes shouldn’t drive a farm’s succession and estate plan, says Polly Dobbs, an estate planning and wealth transfer specialist. She shares what farmers need to know about changes made in the One Big Beautiful Bill.
Farmers will receive more payments under the changes to ARC and PLC programs, and the increase could be significant.