The IRS has enforced new laws for taxpayers running a ranch or farm business. Although business can be overwhelming, the new laws have complicated it. Agriculture is a broad and uncertain...
Posted by Pat Raskob on 01/17/2023
OverviewEconomics is divided into two primary categories: microeconomics and macroeconomics. Microeconomics studies individual and business decisions, while macroeconomics analyzes...
Posted by CORE PERFORMANCE on 07/01/2022
Originally enacted on July 4, 1966, the Freedom of Information Act established a legal right of public access to information from the executive branches held by the federal government....
Posted by CORE PERFORMANCE on 02/14/2022
Running a farm can be cumbersome when you consider several expenses and income sources, credits and deductions, etc., which makes things complicated when it is time to file taxes. Everyone...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
While taxes for 2020 are not due until 2021, many important financial decisions made now can have a major impact on farm taxes and when they are paid. An important resource is the...
If a taxpayer had their personal property destroyed, they could claim casualty and theft losses. For one to qualify for this deduction, however, there must be a sudden and unplanned...
The IRS deals with foreclosure as well as the sale of a property. It was already yours, and you no longer own it, so you could end up paying taxes on a mortgaged property. The event...
The non-profit status may make an organization eligible for certain benefits, such as exemptions on state sales, property tax, and income; however, this corporate status does not automatically...