Further In-Depth Tax Information

These resources are more in-depth for deeper understanding of certain tax topics.

Tax Topics:

January 20, 2025

Net Operating Losses

Weather, disease and variable prices for inputs and commodities cause farmer’s income to fluctuate from one year to the next. Farmers can minimize their income tax liability by managing the timing of their income and deductions to keep their taxable incom...

Case Study:

January 21, 2025

Bob and Betty Workhorse - A Western Ranch Case Study with Tax Returns

This is a case study, with tax returns, for an example of a western U.S. ranch

Other Resources:

Farm Income Tax Estimator Tool Small Farms Tax Guide

This information is intended for educational purposes only. You are encouraged to seek the advice of your tax or legal advisor, or other authoritative sources, regarding the application of these general tax principles to your individual circumstances. Pursuant to Treasury Department (IRS) Circular 230 Regulations, any federal tax advice contained here is not intended or written to be used, and may not be used, for the purpose of avoiding tax-related penalties or promoting, marketing or recommending to another party any tax-related matters addressed herein.