Tax Guide for Farmers – Deductible Expenses, Part 5 – Taxes

If you own a farm or work for a farming business, you need to be aware of sections of the Internal Revenue Code related to farming income and expenses. A portion of the code speaks to the treatment of taxes.

This article is the fifth in a series on deductible business expenses associated with farming. The previous articles on deductible expenses covered Prepaid Farm Supplies, Prepaid Livestock Feed, Hired Labor, and Interest.

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Tax Guide for Farmers – Deductible Expenses – Interest

If you own a farm or work for a farming business, there are specific requirements in the Internal Revenue Code that spell out how you must report farming income and expenses. Those expenses include interest.

This article is the fourth in a series on the deductible business expenses associated with farming. The previous articles on deductible expenses covered Prepaid Farm Supplies, Prepaid Livestock Feed, and Hired Labor.

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Tax Guide for Farmers – Deductible Expenses, Part 3

For those who own a farm or are otherwise in the farming business, they need to know there are specific requirements in the Internal Revenue Code that govern the unique types of income and expense only associated with farming. Those unique expenses include hired labor.

This article is the third in a series on the various deductible business expenses associated with farming. The previous articles on deductible expenses covered Prepaid Farm Supplies and Prepaid Livestock Feed. Continue reading

Tax Guide for Farmers – Deductible Expenses, Part 2

The Internal Revenue Code includes laws that govern the unique income and expenses associated with farming. One such section of law pertains to expenses incurred by a farm business.

This article is the second in a series on the various business expenses associated with farming. The first articles in this series was also on deductible expenses, Deductible Expenses, Part 1.

If you operate or work on a farm, the materials covered in these articles may be of use.

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Tax Guide for Farmers – Deductible Expenses, Part 1

The Internal Revenue Code includes laws that govern the unique income and expenses associated with farming. One such section of law pertains to expenses incurred by a farm business.

This article is the first in a series on the various business expenses associated with farming. This article is specifically on deductible expenses. If you operate or work on a farm, the materials covered in these articles may be of use.

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Tax Guide for Farmers – Cancellation of Debt

There are unique tax laws that apply if you have income or expenses related to working on a farm. If you operate or work on a farm, when you prepare your tax return, you must understand these tax laws.

This publication, the sixth in a series of articles on taxes for farmers, focuses on Cancellation of Debt. The previous entries covered Recordkeeping and Accounting, Income from the Sale of Farm Products, Rent Income, Agricultural Program Payments, and Income from Cooperatives. Continue reading

Tax Guide for Farmers – Income from Cooperatives

If you operate or work on a farm, when you prepare your tax return, you must understand the tax laws that apply to the various unique income and expenses related to farming. This publication, the fifth in a series of articles on taxes for farmers, focuses on Income from Cooperatives. The previous entries covered Recordkeeping and Accounting, Income from the Sale of Farm Products, Rent Income, and Agricultural Program Payments.

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