2019 Nebraska Property Tax-School Funding Issues March 8, 2019

Nebraska has some of the highest ag property taxes in the nation. This article explores how these taxes support state and local government as well as K-12 education and examines some of the major property tax relief proposals.

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Extended Tax Filing Deadline for Farmers and Ranchers March 8, 2019

This week the IRS announced in Notice 2019-17 an extension to the March 1 deadline for farmers who did not make estimated tax payments by January 15, 2019.

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Nebraska and Neighboring States’ Ag Property Taxes as a Percentage of State Net Farm Income Compared to US Average, 1950-2017 January 31, 2019

In Nebraska, agland property taxes have risen to historic levels in recent years as state net farm income has declined, leading to an agland property tax crunch for farm and ranch landowners. Nebraska’s agland property taxes as a share of state net farm income are 46% higher than for the US as a whole.

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Cornhusker Economics: Tax Strategies with the New Section 199A January 30, 2019

Among the many tax consequences of the Tax Cuts and Jobs Act of 2017, are those affected by Section 199A deduction. A good tax break for farmers, it changes incentives for farmer patrons to market through cooperatives.

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Steps on a hillside

Accounting for Agriculture: Step Up While Passing Down December 11, 2018

A major consideration in estate planning is the transfer of assets to the next generation. Using step-up in basis can allow for the sale of long-held farm ground that appreciated in value, with little to no capital gain issues.

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Tax Time sign

5 Things To Do for Your Year-End Tax Planning November 28, 2018

2018 was anything but normal with its new tariffs, price declines, and significant tax changes. While you can't control the uncertainties resulting from these changes, you can take steps to understand their effects and adjust your year-end tax planning.

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Graphic noting end of year calendar for prepaid expenses

Ag Accounting: The Ins and Outs of Prepaid Expenses November 12, 2018

Are you considering some late 2018 purchases? Three factors can help you and your tax preparer determine whether they meet the Internal Revenue Service requirements for a prepaid expense.

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Financial Impact of the Tax Cuts and Jobs Act on Ag Producers August 22, 2018

As experts continue to interpret the new tax code, two things are certain for ag producers: The changes are far reaching and complex and in many cases, will result in a lower tax liability. This overview looks at several of the major changes affecting ag producers.

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