An adjustment to the filing deadline has been made to farmers’ tax returns originally due March 1. Farmers can file their federal tax returns by April 15, without penalty, even if they have not made estimated tax payments. Click here to read the announcement.
As we approach the tax-planning season, there are major tax changes that will require proactive planning with your tax professional. While the tax law changes may seem overwhelming, it is more important than ever to spend time optimizing tax strategies to reduce your tax liability. This first article reviews some of the important tax planning strategies to consider. Our second article summarizes the 2018 year in the dairy, timber, cash field, livestock, fruit, greenhouse and nursery, fishing, and vegetable sectors.
The federal tax law that was passed late in 2017 significantly affects agricultural producers this year. This makes tax planning more important than ever. Farm Credit East recently released a short video summarizing some of these changes and the services it provides to help Northeast agricultural businesses create their tax strategy.
Farm Credit East's Benchmark Solutions report compares members’ financial metrics to those of the benchmark for their industry. Provided free of charge, this report can be used to help members manage their businesses. In this month's Knowledge Exchange Partner, learn how benchmarking can be a management tool for your operation.
