year end tax planning for farmers

Year-end financial planning for farmers — Photo by RDNE Stock project on Pexels

80% Of Farmers Get Harvest Income Deferral Wrong

Harvest income deferral is a tax move, not a magic wand. If you push the final load into the new year without a solid model, you may swap a short-term saving for a long-term liability that erodes equity. In 2023, the USDA reported that 8 out of 10 cash-basis farms