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.

The Cost Method of Inventory Accounting: A Simple Guide

FMV helps you understand the value of your assets, and you’ll need to figure it when submitting an insurance claim, applying for a loan or filing your taxes. Here’s how it works.

What Is Fair Market Value (FMV) and How Does It Work?

Calculating COGS helps you price with clarity, understand profitability and make changes based on numbers, not instinct. 

Cost of Goods Sold (COGS): Definition, Formulas and Examples

Liquid assets like cash, receivables and inventory–also known as current assets–are the lifeblood of your business, funding ongoing activities and keeping the business moving.

Current Assets: Definitions, Calculations and Examples

Properly writing down your inventory is crucial, helping ensure its value is accurately reflected in your books while reducing taxable income. 

What Is an Inventory Write-Down, and How Does It Work?

A properly structured cropland lease puts expectations into writing, helping tenants expand their operation while protecting the tenant-owner relationship.

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