Taxes
The integration of artificial intelligence into financial systems is ushering in a more sophisticated era of tax management — one where software handles the heavy lifting.
With the federal estate tax exemption at historically high levels, most family farms are no longer at risk of paying federal estate tax. Shift your focus to income tax planning and preserving the step-up in basis at death.
Experts share five tips for producers seeking clarity in an increasingly complex tax environment.
Founder of Pioneer Accounting shares strategies to help ranchers simplify tax season.
People often think they can figure out their estate plan later – when they are older, richer, sicker, free from debt and the list goes on. Expert Polly Dobbs says you should have a plan in place that fits today’s circumstances.
Taxes shouldn’t drive a farm’s succession and estate plan, says Polly Dobbs, an estate planning and wealth transfer specialist. She shares what farmers need to know about changes made in the One Big Beautiful Bill.
Attaining ranch profitability is a hot topic, but what about how to use and invest those profits?
Paul Neiffer reviews the newly signed bill, and explains why he gives this bill a grade of B+ for most farmers.
In addition to major tax provisions, the bill enhances the current safety net, providing $66 billion in new spending for farm programs.
The Senate and House each have their own Committee proposals for President Trump’s Big Beautiful Bill. There are some key differences in each that could impact farmers and ranchers.
While the 1,000-page bill includes spending increases for agriculture-facing programs by $56.6 billion over the next decade, there’s one major priority that didn’t make it into the House’s version.
What’s the long-term difference between starting a retirement plan at age 20 versus 40? Farm CPA Paul Neiffer crunches the numbers.
The massive bill faced two major hurdles, passing out of both the House Agriculture and House Ways and Means Committees. While the legislation is filled with positive tax provisions for farmers, potential cuts to SNAP are creating controversy.
Income tax law will change this year, and it will be dramatic. Though the crystal ball right now is fairly cloudy as to the final provisions, the changes will likely be beneficial for most farmers.
Farmers First Trust uses a specific transaction process that can help farmers sell the family operation without the immediate tax burden.
Speaker Mike Johnson (R-La.), commits to fast-tracking Trump’s legislative agenda by May, which is perhaps the biggest bill in American history. There will be unprecedented spending cuts to help pay for it all, along with newly proposed tariffs on imported goods.
With 30 tax provisions set to expire at the end of 2025, four experts explain how and when you could be affected.
Bill Previously Passed House and Goes to President for Signature
One of the biggest anticipated changes that could impact farms across the U.S. is the possible change to the tax policy under a second Trump administration.
Data shows urgent need for tax relief to protect family-owned cattle operations.
With fall weaning and harvest upon producers, it’s also time to think about tax-planning with an accountant to avoid unforeseen tax implications.
Working on a succession plan for your operation? Here are a few key points to keep in mind.
Paul Neiffer reviews the important updates to the new Farm Bill proposals from the House Ag Committee.
“The current lifetime estate and gift tax exemption is $13.61 million and will be cut in half beginning in 2026.”
Paul Neiffer, The Farm CPA, details some of the Biden administration’s 2025 budget plans and how they could affect farmers if approved. Of the provisions, only one would potentially help farmers, he says.
According to USDA, only 40% of farm households participate in some type of retirement account. Here’s a way to potentially save money for retirement, reduce taxable income, and have more borrowing options.
When the IRS audited the Hajda farm, an agent arrived at the property, sat inside the farmhouse kitchen, and pored over the family’s finances.