March, 2019
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When is Guidance Coming?
We are still waiting for guidance from the IRS on farm specific tax questions. We may not get it before April 15 and even if we do, the tax software will not be ready.
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LLC Equal Flexibility
LLC’s allow investors in farm operations to get a preferred return and then split profits after that return. You will start to see more of these in farming.
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Wheat and Cotton Seed ARC or PLC
Some readers asked us to run calculations on wheat and cotton seed.
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ARC or PLC – Which to Choose?
ARC under the 2014 Farm Bill paid for farmers. It will likely be much lower in the 2018 Farm Bill.
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You Can Capitalize Repairs
Many farmers are showing losses this year. By electing to capitalize repairs, you may be able to get your taxable income to the optimum level.
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Do You Know Your Deferred Tax Number?
Most farmers don’t know how much deferred tax liability they may owe if they decide to liquidate or retire. We go over how to calculate it and why it is important to know it.