Farm Industry Trends
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Landlords – Which is Better, Cash Rent, Crop Share or Custom Farming?
Cash rent farm landlords that do not farm may not benefit from the new Section 199A deduction due to the proposed regulations. There may be other options to consider if the deduction is important.
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Aggregate, Aggregate, Aggregate!
The aggregation option is a great tool allowed by the proposed Section 199A regulations. We go over a couple of examples.
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What is Common Ownership?
Common ownership is needed to allow the Section 199A deduction for cash rented ground or to aggregate entities if over the threshold. We explain how.
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Several Possibilities for Education on the New Tax Law
Chris Hesse and myself will be doing a full day training on the new tax law and how it affects farmers over the next several weeks. A couple of sessions will be available via webinars and we also will be doing seminars for various firms during this time period.
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What I Need to Attach to Schedule k-1
Even more information will be required on passthrough income tax returns due to Section 199A.
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What Wages Qualify?
For higher income farmers W2 wages paid can be very important. We explain why and how to calculate these wages.
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Are You Dealing?
Most farmers and grain warehouse owners assume all of their income will qualify for the new Section 199A deduction. It appears that based on the just released IRS proposed regulations that this may not be correct. We explain why.
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Is a DST for You?
Farmers normally exchange farm real estate for farm real estate to defer the capital gains tax. However, there are some situations where rolling the gain into a Delaware Statutory Trust (DST) may make more sense. We explain why.
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Good News On Partnership Purchases
The IRS just issued new Proposed Regulations that have some good news for partners buying into a partnership. We explain how.
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Does a CRAT make sense for you?
Farmers getting close to retirement can face a huge tax bill. Using a Charitable Remainder Annuity Trust (CRAT) can reduce this tax. We explain how.