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Appeals Process for ERP AGI Issues
FSA appears to now allow an appeals process on the Farm AGI issue. Details on the process are limited at this time.
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Farm Supply Inventory and the Issue with Value
Ag supply dealerships should expect to experience potential financial statement adjustments to account for their inventory valuations, given high purchase pricing and recent declines in market values.
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Prevailing Wages May Not Apply to Farmers
We provide an update from last week’s post on prevailing wage requirements. It likely does not apply to many farmers.
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Employee Retention Credit Seminar Opportunity
The Employee Retention Credit continues to be a hot topic and potential for large cash refunds for those employers who can demonstrate the required decrease in gross receipts or other Covid related shut-down parameters from Q2 2020 through Q3 2021. I have many clients that have received six figure refunds because of this credit. The […]
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USDA Doubles Down on Equipment Gains
USDA finally released guidances on equipment gains and farm AGI and it is not the answer we were looking for.
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IRA 2022 – What It Means For Farmers
Now that the Inflation Reduction Act of 2022 has been signed we dig into details of importance to farmers.
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Update to the Update
We update our previous blog post regarding funds available to help farmers facing financial difficulties.
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More Inflation Reduction Act of 2022 Analysis
The Inflation Reduction Act of 2022 has repealed a provision in the Amercan Rescue Plan of 2021 that was designed to help socially disadvantaged farmers. However, there is a new provision that may provide similar relief.
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Smaller NOLs for Two More Years
The Inflation Reduction Act of 2022 has a provision to extend the Excess Business Loss rules for two more years.
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Inflation Reduction Act of 2022
The Inflation Reduction Act of 2022 is moving forward in Congress. We discuss what the primary impacts to producers.