Articles tagged under: taxes
Time for Tax Planning
Published December 2, 2024
Tax planning season is here. "It's always a good idea to get started around this time of the year," said NDSU Extension Farm Management Specialist Ron Haugen. Farmers have a lot to consider when doing their taxes, especially with their…A Deep Dive into Taxes
Published July 26, 2024
The South Dakota Farm Bureau's meetings this past week were for anyone who wanted to learn more about what is in their tax bill. “As an organization, we hear a lot about people talking about taxes, whether it’s property taxes…IRS: Income Averaging is Underutilized
Published July 16, 2024
A study by the Internal Revenue Service found income averaging is a tool that is underutilized by farmers. NDSU Extension Farm Management Specialist Ron Haugen explains. "If you happen to have income that's quite high compared to your previous three years,…Tax Changes Sought
Published November 30, 2023
A unique coalition of farm groups is urging congressional leadership to extend tax provisions that impact Rural America. That request includes the full expensing of new equipment, which drops to an 80 percent deduction this year and is phased out…Defending the Legacy
Published September 17, 2023
There is a difference between a tax preparer and a tax strategist. Freedom Finance Group CEO Marissa Nehlsen said a tax preparer simply takes a customer's information and prepares the return and a tax strategist provides options "on how to…RRFN Forum: Ag Law and Taxes
Published September 12, 2023
A myriad of legal issues have faced agriculture in recent years, including Supreme Court decisions on WOTUS and Proposition 12. An ever-changing tax code is also the norm. Roger McEowen, professor of agricultural law and taxation, Washburn University School of…Historic Tax Bill Signed
Published April 28, 2023
North Dakota Governor Doug Burgum has signed a major tax relief package. It includes $358 million in income tax relief and nearly $157 million in property tax relief. Burgum did not get the flat tax he sought at the beginning…Bohn Reflects on Year as NCBA Leader
Published February 2, 2022
Looking back on his time as president of the National Cattlemen’s Beef Association, Jerry Bohn said the biggest achievement was protecting taxes for agricultural options. "The Biden Administration was looking pretty hard at taking away stepped-up basis, increasing capital gains…Cautious About Budget Surplus
Published January 21, 2022
The Minnesota legislative session will begin in less than two weeks. While there is a budget surplus, Minnesota House Ag Finance and Policy Committee Lead Republican Paul Anderson does not think lawmakers should spend it all. "This is one-time money…