Farmers have special tax opportunities that many other business owners do not. Our experience in agriculture means that we specialize in knowing these issues for the farmers we serve.

Did you know…

  • Farmers are the only businesses that can use income averaging.
  • Farmers have different rules about making estimated tax payments.
  • Farmers have special rules about when to file their tax return.
  • Farmers have different rules about using the cash basis of accounting.
  • Farmers can make special types of charitable contributions.
  • Farmers can make special kinds of gifts to their heirs.
  • Farmers can pay their employees differently than other companies.

Additionally, farmers have many unique business decisions that can have a huge impact on their tax savings. Common issues include…

  • Whether to retain livestock or purchase new livestock in herd maintenance and growth.
  • How to structure crop rental agreements.
  • How to recognize crop insurance payments.

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