Farmers Tax Returns
Beef Farming
For farmers, it’s never too early in the year to start thinking about taxes. In fact, good tax planning often starts in December of the previous year.
Farmers can improve their tax returns through planned purchasing and selling to maximize the benefits of each calendar year. For example, selling cattle early in January is one way
to enjoy the proceeds for a whole year before having to pay taxes on them. Early year sales can help cash flow since the nature of farming is seasonal and revenue often fluctuates from year to year.
It has often been said that the tax code loves farmers. Generally speaking, it’s true! The tax law does provide a lot of benefits to farmers.
We take great pleasure in serving the agriculture industry. Call us today for an appointment.
Farmers can improve their tax returns through planned purchasing and selling to maximize the benefits of each calendar year. For example, selling cattle early in January is one way
to enjoy the proceeds for a whole year before having to pay taxes on them. Early year sales can help cash flow since the nature of farming is seasonal and revenue often fluctuates from year to year.
It has often been said that the tax code loves farmers. Generally speaking, it’s true! The tax law does provide a lot of benefits to farmers.
We take great pleasure in serving the agriculture industry. Call us today for an appointment.