Revised July 2002

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Income Tax Management for Farmers

Editor's note
The following abstract describes a publication that is only available for purchase. A link to ordering information is on this page.

North Central Regional Publication

Minimizing income taxes while maximizing after-tax income is the focus of Income Tax Management for Farmers.

Sections cover

• Year-round tax management
• Tax accounting methods
• Depreciation
• Government payments
• Special rules for droughts and other disasters
• Expenditures
• Losses
• Capital gains and losses
• Income averaging
• Farm purchase or sale
• Social Security considerations
• Tax projection (worksheet).

Note
This is not a tax preparation guide.

Keywords

• Accrual accounting
• ACRS
• Capital gains
• Capital losses
• Cash accounting
• MACRS
• Tax planning
• Tax tips

Pages

• 32

NCR2, revised July 2002