If the only task you find less enjoyable than paying taxes is compiling the documents necessary to prepare your return, consider better record keeping for your farming operation. Better organization will not only help with tax preparation but also benefit your business.
As the year closes, so does the window of opportunity to bring your 2014 income and expenses in line with previous years. This savvy business move can help lower your income tax liability.
Traditionally, purchasing farmland has been one of the best investments a farmer can make, but what about when land is $20,000 an acre?! A 74-acre tract of Iowa farmland sold for that amount earlier this month. We want to know what you’re hearing about land prices – are they similar to the ranges mentioned below? Let us know.