Taxes
Paul Neiffer, The Farm CPA, details some of the Biden administration’s 2025 budget plans and how they could affect farmers if approved. Of the provisions, only one would potentially help farmers, he says.
The 2017 Tax Act temporarily raises estate tax exemption, impacting farm estates. If it expires, large farms with gross cash income between $1M and $5M would see the largest increase, rising from 2.8% to 7.3%.
The practices used during the 2024 growing season will have a direct impact on the ability to take advantage of these incentives. Mitchell Hora of Continuum Ag shares what you need to know.
Leading financial experts underscore the importance of farmers understanding the do’s and don’ts of a Line of Credit that will help producers during the downside of the rollercoaster markets they have gotten to know.
When the IRS audited the Hajda farm, an agent arrived at the property, sat inside the farmhouse kitchen, and pored over the family’s finances.
The American Families Plan provides direct and indirect benefits to families. It also raises a lot of key questions for farmers and their succession plans.