“Beyond the Seed: Protecting Your Innovations and Bottom Line in the Era of High-Tech Farming.” Overview The agricultural landscape is undergoing a digital and biological revolution. Whether it’s a new drought-resistant hybrid, a proprietary algorithm for precision planting, or the “Big Data” harvested by a fleet of autonomous combines, Intellectual […]Read more »
Income Tax
478 posts
Why the Tax Court Just Plowed Under Basis Shifting Overview For decades, the tax Code has been a tool for savvy farmers and ranchers to preserve capital, transition operations to the next generation, and manage the razor-thin margins of American agriculture. We use partnerships—specifically those governed by Subchapter K—because they […]Read more »
The One Big Beautiful Bill Act (OBBBA) The biggest development of 2025 in agricultural law and taxation was the signing into law on July 4 of the OBBBA. The OBBBA represents a significant mix of tax relief and modernized safety nets for the ag sector. By aligning tax code benefits […]Read more »
Deducting Residual Soil Fertility Soil nutrients. A tax strategy that has increased exponentially in recent years and for which there are no cases, no statue and no IRS guidance in the last 30 years is claiming a deduction for “residual” or “excess” fertilizer supply. With rising farmland values and fertilizer costs, many […]Read more »
Why Farmers Should Be Wary of the “Private Bank” Pitch Overview If you spend any time on farm forums or social media, you’ve probably seen the pitch: “Become your own bank.” Promoters of the Infinite Banking Concept (IBC) tell a compelling story. They suggest that instead of going to the […]Read more »
Overview The One Big Beautiful Bill Act made 100 percent bonus depreciation permanent for assets placed in service after January 19, 2025. So, this year, you will be able to deduct 40 percent of the cost of buildings and equipment placed in service between January 1 and January 19. After […]Read more »
Borrowing Shouldn’t be a High Stakes Gamble Overview The business of agriculture is inherently risky. From volatile commodity markets and unpredictable weather to the ever-present threat of pests and disease, farmers operate in an environment where success is constantly hanging in the balance. When credit is introduced (often the essential […]Read more »
Overview It’s been a while since I last did an case and ruling update. So, today’s post is one of several that I will post in the coming weeks. Some recent developments in the courts and IRS – it’s the topic of today’s post. Retained Ownership of Minable Surface Negates […]Read more »
Overview With today’s article I look at more legal and tax issues that farmers and ranchers need to know about. Being aware of legal and tax issues is a means of overall risk management for the operation. More discussion of legal and tax issues – it’s the topic of today’s […]Read more »
Overview Trump Accounts are a new investment vehicle for parents of newborns. They have some unique features and are only good for a short window of time (unless extended). One another note, AGI issues remain concerning USDA’s Supplemental Disaster Relief Program. These are the topics of today’s post. Trump Accounts […]Read more »