Top 10 Tax Tips for Farmers (Maybe Not)
Accounting Today is a magazine for CPAs. On their website, they just posted their Top 10 tax tip for farmers. There are some tips here, however, I think the photos are better than the tips. Most of them are fairly simple, but you may pick up something that you did not already know.
Our blog is designed to take some of these same “tips” and provide more detail on how the tip might apply to your operation. We will keep you posted on any new “tips” or old “tips” that are still tried and true.
Farmers have less than two weeks to file their returns (assuming they are taking advantage of the special March 1 filing deadline). I know I have picked up about 60 new farmer returns due by March 1 this year and so far, things seem to be working out fairly well (although that can sometimes be the kiss of death when you say things are going well).
Paul Neiffer, CPA
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
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