-
IRS Finally Updates RP Crop Insurance Deferral Options
The IRS finally updated their Farmer Tax Guide to indicate famers can defer the yield portion of revenue protection crop insurance policies. You cannot defer the price portion.
-
Equipment Sale Trap
Selling equipment at retirement can be a complicated process. Many believe that selling the entire line over a term of years is a viable option. It actually is not…but there are other options available.
-
The Important Stuff – Golf
I have 12 spots available for golf next Monday morning for the AICPA Ag conference and am requesting you send me an email to confirm you are golfing.
-
It’s Never too Early…For Tax Planning
Tax planning is important and with all the complexities of the current market, it may be of benefit to start early this year.
-
Would a Cash Balance Plan Work for You?
Farmers looking forward to retirement may want to consider a cash balance plan. We go over the details
-
HSA – The Triple-Play of Retirement Accounts
A Health Savings Account can be the retirement plan option for a farmer. We review why.
-
File FSA-520 Now!
Just a reminder that you need to file your ERP application (FSA-520) by this Friday July 22. The FSA-510 to show farm AGI greater than 75% can actually be filed within 60 days after that date.
-
You Now Have Five Years to Make Portability Election
The IRS just issued guidance allowing five years to make a portability election. This is good news.
-
Estate Tax Planning Seminars
I will be doing a four hour seminar on estate planning using trusts, etc. over the next few months. We provide a link to each seminar.