Having these conversations early can help you make informed decisions that reduce tax surprises, protect cash flow and support the long-term success of the operation.

Five Things to Ask Your Tax Professional About for 2026

Understanding Section 263A helps agricultural producers avoid costly tax surprises and make informed decisions as their operation grows, changes or transitions to the next generation.

Section 263A and the UNICAP Rules: A Simple Rundown

Choosing the right balance sheet value for your assets can help you make better decisions, plan for growth, prepare for succession and save you time when applying for loans or grants.

Cost vs. Market Value: Which One Should I Use?

Finish the year strong, clean up your books and start the new year with confidence.

Year-End Close: A Checklist for Agricultural Producers

Debits and credits are the building blocks of your farm accounting operation, keeping your farm’s financial records accurate and meaningful. Here’s how they work.

Debits and Credits: A Practical Guide

Completing Form 1065 can be tricky if you have many different types of partners—family members, landowners, and hired hands—contributing to your operation. Here’s how it works. 

A Simple Guide to Form 1065: Return of Partnership Income

Track where your money comes from, where it’s going and how each part of the business is doing.

What’s My General Ledger and How Does It Work?

Fixed assets are the backbone of many agricultural operations, providing the tools and resources farmers and ranchers need to keep operating day-to-day. 

Fixed Assets: Definitions and Examples

1031 exchanges are an increasingly popular option in areas where producers have an incentive to sell land. Here’s what you need to know and how to make them work for your business.

A Guide to 1031 Like-Kind Exchanges for Agricultural Producers

Understanding Form 1120-C and Form 1099-PATR is essential for accurately filing your taxes and qualifying for benefits like 521 exempt status. Here’s how they work and what they mean for your return.

How to File Form 1120-C for Your Farm Cooperative

Pass-through entities have to file a K1 for each partner or shareholder to figure how income, deductions and credit pass through to individual returns. Here’s how it works.

What is a K1 Tax Form? Schedule K-1 Instructions and Examples

A C Corp can be an excellent choice for larger operations looking to raise capital or provide strong limited liability protection for their owners, however it’s important to weigh the complexity and tax implications.

C Corporations: A Decision Guide for Farmers and Ranchers

The April 15th IRS deadline is important, but for many agricultural businesses tax-related paperwork is a year-round affair. Keep these important dates in mind for 2026.

2026 Tax Deadlines for Farmers

If you’re forced to sell livestock due to a weather-related disaster such as drought, two tax provisions – 451(g) and 1033(e) – could help soften the blow. Here’s how they work. 

Deferring Income From Livestock Sales: How Does It Work?

This form ensures you report your cost of goods sold (COGS)—direct cost such as feed, seed, and supplies—properly, so you’re taxed only on your actual profits, not total sales.

Form 1125-A: How to Deduct COGS on Your Taxes

Before you change your overall accounting method or the way you treat any particular item—e.g. how you depreciate your assets or value your inventory—on your tax return, you’ll have to file Form 3115 first. Here’s how it works.

Form 3115: How to Change Your Accounting Method With the IRS

Track the changing value of your herd when full cost accounting and recordkeeping is impractical.

The Unit-Livestock-Price Method of Inventory Accounting

Since cost accounting for livestock and other farm commodities can be difficult, agricultural producers can also use the farm-price method to track their inventory. Here’s how it works.

What Is the Farm-Price Method of Inventory Accounting?

In a volatile marketplace, the lower of cost and market method can provide stability and consistency, but the nature of farm inventories can also sometimes make it impractical. 

The Lower of Cost and Market (LCM) Method of Inventory Accounting

Valuing inventories at cost helps you focus on true performance rather than short-term market price swings—but the recordkeeping involved can also be significant.

All Posts