News
What Do You Mean I'm Subject to IRMAA?
Medicare premiums are based on taxable income. If you've received a large adjustment in your premiums that resulted from a life change, make sure to consider appealing the adjustment.
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What Do You Mean I Have To Pay Sales Tax?
Many producers believe they are exempt from sales tax on their farm-related purchases. Sales tax exemptions are complicated and apply only to specific items.
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When can you defer livestock sales due to drought?
More and more livestock producers are being forced to liquidate herds due to drought. We review how to defer part of these sales and why you may not want to defer.
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Good News on IRS 2023 Inflation Adjusted Lifetime Exemption Amount
Now that we know the final August 2022 inflation numbers we have a good idea of what the inflation adjusted amounts will be for all of the tax provisions that are adjusted annually.
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Intuit Announces Pricing Updates to QuickBooks Desktop
The long awaited price updates have been released by Intuit. As you will see, the price increases are substantial. These fees are annual and must be renewed each year.
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Health Savings Accounts-Farmers
Did you know that a Health Savings Account (HSA) is a retirement option for farmers?
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IRS Updates RP Crop Insurance Deferral Options
The IRS finally updated their Farmer Tax Guide to indicate famers can defer the yield portion of revenue protection crop insurance policies. You cannot defer the price portion.
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