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As a farmer and an accountant for more than 25 years, I continue to combine my first-hand understanding of agriculture and CPA skills to help Midwest farmers plan, grow and protect your family legacy. 

 

Monday, February 1, 2016

The long-awaited and much-anticipated tax extender bill finally passed Congress and was signed by President Obama on Dec. 18, 2015. In case you haven’t sorted through the details, there are several key provisions relevant to...

 

Monday, January 18, 2016

Listen up for your 2016 taxes: The Internal Revenue Service (IRS) has changed the rule governing the assets businesses must capitalize and depreciate. Starting in the 2016 tax year, assets worth as much as $2,500 can avoid...

 

Thursday, December 10, 2015

As farmers, we're all about getting the most value for our money, particularly when margins are tight. You should have the same mindset when it comes to getting the most value from your CPA. A client recently reminded me of the old...

 

Monday, November 2, 2015

Following a disastrous wet planting season, resulting in thousands of unplanted acres, crop insurance checks should be arriving in mailboxes any day now. Congratulations to those farmers fortunate enough to get their seed in the ground...

 

Wednesday, September 23, 2015

Death and taxes may be considered taboo as a dinner conversation; however, as accountants it can become necessary and a common place to have such discussions. Tax accountants routinely assist a surviving spouse in dealing with the tax...

 

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Friday, July 10, 2015

The Internal Revenue Service (IRS) has always required farmers and small business owners to determine whether an expenditure for repairs or maintenance to equipment or buildings was a current deduction or required to be capitalized and...

 

Wednesday, July 8, 2015

Health insurance and taxes are interesting companions. Typically, I focus on tax issues, but as of late, I have received many pointed questions about health insurance coverage—or the lack thereof. Were you and your family covered by...

 

Wednesday, July 8, 2015

In light of current grain prices, it’s easy to feel less than charitable. However, if you properly structure your sales, you might be able to achieve a premium for a portion of your stored grain. Let’s explore a few opportunities...