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.
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.
The Federal Reserve of Kansas City just released their latest Ag Lending Databook. We provide some details of interest.
Just an update on where I am teaching today with a bit of the history
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.
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.
Business interest deductions may be limited under tax reform. We give you some of the details.
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