NEWS
Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Fri Sep 28, 2012 06:49 AM CDT

DTN Tax Columnist Andy Biebl is a CPA and tax partner with the accounting firm of CliftonLarsonAllen in Minneapolis, Minn., and a national authority on agricultural taxation. To pose questions for upcoming columns on DTN, email AskAndy@dtn.com

Question:

I have never used income averaging as a farmer, but believe it would be to my advantage in 2012 because income is significantly higher than in the past. My question has to do with "elected farm income" which goes on line 2a of Schedule J. I have read the instructions but am still confused. I thought the amount on this line would ...

Quick View
  • The New Dicamba At an event exhibiting the company's soon-to-arrive Dicamba-tolerant soybean trait, Monsanto repr...
  • Rates Too Low Too Long Discounted interest rates have led to unintended consequences in land values, a shortage of funds...
  • Center Pivots Take a Beating Severe storms in mid-June have damaged hundreds of center pivot irrigation systems in Nebraska al...
  • "Easy Money Times Over" Feeding the world population won't be as hard as expected over the next decade some experts forec...
  • A Hunger for High-Tech The Gruhlkey brothers of Wildorado, Texas, are using technology and thoughtful cropping choices t...
  • Clearing the Air EPA Administrator Gina McCarthy told a group of agribusiness representatives that her agency want...
  • No More Outlaw Vets Veterinarians can start breathing a little easier now when they go to work, without the fear that...
  • Ask the Vet My vet diagnosed anaplaz and I've never heard of that.
Related News Stories
Taxlink by Andy Biebl
IRS Targets "Passive" Landowners
House OKs Business Tax Breaks
Taxlink by Andy Biebl
Taxlink by Andy Biebl
Taxlink by Andy Biebl