Taxes
The Farm CPA Paul Neiffer says these three topics alone: the tax code changes, the farm bill or biofuels policy give him a lot to stay on top of
Farm CPA Paul Neiffer details the differences between what USDA and the IRS consider as farm income.
Farmers First Trust uses a specific transaction process that can help farmers sell the family operation without the immediate tax burden.
Speaker Mike Johnson (R-La.), commits to fast-tracking Trump’s legislative agenda by May, which is perhaps the biggest bill in American history. There will be unprecedented spending cuts to help pay for it all, along with newly proposed tariffs on imported goods.
With 30 tax provisions set to expire at the end of 2025, four experts explain how and when you could be affected.
Paying an inheritance tax in many cases would require selling acreage or even dissolving a farm that goes back centuries.
With the unknown of if and when Congress will act, guidance is available based on estate size.
As you do your tax planning at year-end, be sure to review any assets you have held for at least a year to determine if your taxable income remains in the 15% tax bracket.
One of the biggest anticipated changes that could impact farms across the U.S. is the possible change to the tax policy under a second Trump administration.
The good news is a Trump presidency and Republican-controlled Senate might result in fewer regulations and lower taxes. The bad news is the U.S. could be headed for a possible trade war with China and other countries.