July, 2017
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IRS Warns More Info May Be Needed to E-File Business Returns
The IRS will start to require additional information to e-file business tax returns.
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Farm Financial Standards Council Meeting
Today is the main part of the Farm Financial Standards Council annual meeting. I will be recapping what I learn through out the day.
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Farm Financial Standards Week
This week is the annual Farm Financial Standards Council annual meeting. I update you on my travel plans for the wheat and provide some views on crop conditions around the country.
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“Some Assembly Required”
Over the years, the most dreaded words I hear are “some assembly required”. This can also apply to tax planning. Make sure to do all of the steps and you will end up with a good plan.
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Farmland Values Are Mixed
The Federal Reserve of Kansas City just released their latest Ag Lending Databook. We provide some details of interest.
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Should You Consider a Cash Balance Plan
If you are nearing retirement and face a large income tax bill, you may want to consider using a cash balance plan to reduce those taxes.
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Farmer Equals Step-Up – Share-Crop No Step-Up
When a farmer passes away, the heirs can get a step-up in basis on farm inputs and deduct them again. However, if this is a crop-share landlord, the tax rules may prevent this double deduction.
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Will You Be Able To Deduct Business Interest Under Tax Reform?
Business interest deductions may be limited under tax reform. We give you some of the details.