If retirement is on the horizon, the sooner you can start thinking about succession planning, the better. Whether your plan is to transition your business to the next generation or a non-family successor, you should be speaking to a consultant or advisor on how to make it a smooth transition.
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In today's Tax Talks, learn more about the Maine Dirigo Business Incentives program. The program offers significant tax savings for certain qualified businesses in the state of Maine.
May 29, 2025
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As field work and spring planting kicks off across the Northeast, many farmers are making significant investment in equipment, crop inputs and labor. These expenditures present opportunities for proactive tax planning and sound record keeping. By aligning your spring activities with tax efficient strategies, you can optimize deductions, manage cash flow effectively and set the stage for a smoother year-end process.
April 30, 2025
Before filing your taxes for 2024, take a look to see if your farm operation can claim the Credit for Federal Tax Paid on Fuels. Today's blog covers the requirements, including a new Fuel Tax Credit Statement checklist which needs submitted as well.
February 27, 2025
As the 2024 growing and harvest season wraps up, many producers will be turning to their tax advisors to continue the year-end tax planning conversation. In this article, we examine a few areas that may be of interest to apple producers and their advisors.
October 29, 2024
As we navigate the complexities of tax season, it's essential to stay informed about the various credits and deductions available to you. One such benefit is the Farmers School Tax Credit (FSTC), a valuable resource for those engaged in the business of farming. This blog aims to provide a high-level overview of the FSTC and Manufacturer’s real property tax credit to ensure you have the information needed to maximize your tax savings.
October 08, 2024