Taxes

1099 Form

Who Needs a 1099? August 8, 2017

Farmers and ranchers are required to issue IRS 1099 forms for any payments of $600 or more made in the course of their trade or business. This basically means that if you are deducting that cost on your tax return, your need to issue a 1099. Learn more about the requirements and recommendations for issuing.

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hand using a calculator
Calculating ag taxes

Agricultural Tax Planning in Low Income Years October 25, 2016

Producers often feel there is no need to do tax planning in years when there is no profit, but in many ways, it’s more important to do tax planning in low income years than it is in high income years.  There are many planning strategies that can be used to help save tax dollars over the long term if there is enough time to plan.

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Graphic of a hand on a calculator to accompany 5 tax tips
Graphic of a hand on a calculator to accompany 5 tax tips

5 Tax Deductions for Your Farm October 21, 2016

Tax time on the farm can be a little stressful. In gathering all your forms and receipts in preparation for a visit to your accountant, don’t forget about these five deductions.

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