Farm taxes are most likely the least fun thing about being a farmer. Managing the land, working with the various stages of crop development, or taking care of your herd are much more enjoyable. You probably don’t climb up into the cab of your tractor each morning...
The Inflation Reduction Act is a political hot button right now as Americans face record inflation rates and sky-high prices on everyday essentials. However, in this post, we want to focus on how the Inflation Reduction Act helps rural farm families. We get it! Times...
Inflation in agriculture is a big deal at the moment. The basic definition of inflation is “too much money chasing too few goods,” and that is exactly what is happening now. Over the past couple of years several factors have led to the circumstances we find ourselves...
The amount of money you pay the IRS is based on how much profit you’ve made that year. Before we begin any discussion on agriculture tax deductions, it’s important that we remind you: it is illegal to deduct any expenses that are not legitimate. Having said that,...
In our last blog post, How to Save on Your Farm Taxes by Knowing What Vehicles Are Eligible for Section 179, we talked about how Section 179 can save farmers a lot of money on their expensive equipment. Taking advantage of this part of the U.S. Tax Code can result in...
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