NEWS
Taxlink by Andy Biebl
Andy Biebl DTN Tax Columnist
Tue Jan 29, 2013 08:41 AM CST

This is the time of year when farmers are dealing with taxes and other financial paperwork. It's also the perfect time to address those important "perpetual" tax documents that get outdated. This is important defensive medicine. The IRS will create havoc when your paperwork does not match current transactions or economic realities.

RELATED-PARTY LEASES

Most producers will have some land rental arrangements with related parties. A farm proprietor may be leasing land owned by his wife. The family farm corporation may be leasing land owned by its controlling shareholder. These leases need to be in writing and reflective of the ...

Quick View
  • Stay on Top of SDS The distinctive yellow patches of sudden death syndrome (SDS) are surfacing in soybean fields acr...
  • Cattle Market There may be a little less bull in this fall's calf market, but the fundamentals still spell oppo...
  • Precision Ag Potential Pending Precision agriculture proponents insist the industry can revolutionize agriculture, but first mor...
  • Cash Rent Reset - 2 Iowa farmland owners Fred and Lodean Cook may consider flexible cash leases for the first time th...
  • Iowa Land Gets a Bounce Key Midwest land values are stuck in neutral or sliding below 2014 levels, recently released opin...
  • Canadian Dairy Conundrum Coping with Canada's dairy industry import tariffs and supply controls remains one of the stickin...
  • Senior Partners - 5 This fatherly financial advice is meant to prevent heartaches should the farm economy suffer anot...
  • Ask the Taxman by Andy Biebl CPA Andy Biebl answers readers' questions on depreciation recapture, defining a "true" lease and ...
  • Ask the Vet Does my calf have a hernia and is it repairable?
Related News Stories
Senior Partners - 4
Senate Panel OKs Tax-Extenders Bill
Ask the Taxman by Andy Biebl