Ask the Taxman

Cash method of accounting is under attack.

How should a worker be paid? The answer is sometimes not black and white.

If you are planning on exiting farming, the IRS has provided some great tools.

DTN Tax Columnist Rod Mauszycki explains regulations the Treasury Department recently proposed for Section 199A that deals with patrons selling commodities to cooperatives and how Specified Cooperatives should calculate and pass through the 199A(g...

With farm income projected to be 45% lower in 2019 than its peak in 2013, have you lowered your business and personal expenses by 45%?

Some business owners have downsized their vehicles only to discover they can't fully depreciate/expense the purchase. Here are the rules under tax law for depreciating a vehicle used for business purposes.

A variety of tax credits are available to farmers under the new tax law, including credits for fuel, solar and geothermal systems, and hiring someone from a certain target group.

The new tax law eliminated a number of deductions for employees who work from home, and there are a number of ways employers can compensate for that loss.

The past year has been a wild ride from the tax perspective. Here are a few of the major takeaways.

By doubling the standard deduction in tax reform legislation, Congress made it tougher to benefit from charitable donations. However, commodity gifting as well as cash and stock donations still have their place in your tax plan.

It's almost time for employers to begin preparing year-end paperwork, and it's a good time to reconsider if your work should be categorized as an employee or independent contractor. The difference depends on three main variables: behavioral control...

Creating a succession plan and preparing for retirement not only helps farmers save on taxes, but it also sets their families up for success.

The IRS' guidance on Section 199A allows farming operations to aggregate land and operating business income, maximizing tax deductions while avoiding some self-employment tax. But for non-operating landlords, there are important factors to consider.

With new tax laws, rising interest rates and creative investment ideas, the use of charitable remainder trusts have become more attractive.

Knowing whether you meet the IRS' definition of a farmer could save you costly mistakes come tax time.

In the past, farmers accepted losses and even looked at them as opportunities. However, the new tax law changed how we look at farm losses.

Thinking about converting your farm to an S corporation? Here are some things to consider first.

Here are some the recent changes to Section 199A and how they will work if selling to a cooperative.

With the low commodity prices and tax law changes, farmers as well as lenders are asking whether to purchase or lease equipment.

The Tax Cuts and Jobs Act significantly changed how agribusiness looks at depreciation. Bonus deprecation was one of the few items in the new law that applies retroactively. Under the new law, annual depreciation limits on passenger autos also increase...