Originally published in Hoard's Dairyman, this article by Roger Murray, Farm Credit East Chief Marketplace Officer, touches on managing financial risk with good financial information, getting feedback and input from advisers and making strategic business decisions.
2020 is shaping up to be a potentially high-income year for some farmers across the country, especially given the latest round of Coronavirus Food Assistance Program (CFAP) payments. One tool that will likely come into play for fruit growers this year is the ability to depreciate 100% of the cost of new orchards.
The IRS has been busy working on guidance to help taxpayers navigate the relief provisions recently afforded to them by Congress. Dario Arezzo outlines several items that taxpayers should know.
