Tax Consequences of Weather-Related Sales
May 31, 2019
How do tax laws apply to crop and livestock losses due to flooding and should they be applied this year? Consider the effects for 2019, 2020 and afterward from using some of these options.
Disaster-Related Tax Relief
March 28, 2019
Due to the President's recent disaster declaration, individuals and businesses in several counties may qualify for tax relief. This covers an extended tax filing deadline, casualty losses, and how to request free copies of previously filed tax returns for affected taxpayers.
Market Impacts of a Meat Tax
March 20, 2019
In this week's Cornhusker Economics, two authors from the Department of Agricultural Economics address implications of a meat tax on livestock production and grain production.
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.
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.
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.
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.
Western Nebraska Workshops on Schedule F Tax Form
January 11, 2019
Nebraska Extension is conducting “Introduction to Schedule F” workshops in Chadron, Alliance and Kimball this month to explain the updated Federal Income Tax Form Schedule F for farmers and ranchers. The cost for the workshop is $20 per participant.