NEWS
Taxlink by Andy Biebl
Andy Biebl DTN Tax Columnist
Tue Dec 3, 2013 01:35 PM CST

Traditional year-end tax planning is all about deferrals -- commodity revenue pushed to the next year and expenses accelerated into the current year. And the tendency is to set reportable taxable income below actual earnings. The result is a continuously increasing income deferral that becomes a tax disaster at retirement when it's recognized.

How about creating a major deduction today that pushes the income down the road 30 to 50 years, while compounding tax free? A qualified retirement plan can do this. But what is often overlooked is the duration of the deferral and also the magnitude of dollars that ...

Quick View
  • Dr. Dan Talks Agronomy Can you trim inputs while growing soybeans in 2015? Here's a look at what you can and can't cut.
  • Fescue Workaround Fescue can be a challenge, but Butch Foster said he and his dad, Bob, put 200 to 250 pounds on ca...
  • Ask the Taxman by Andy Biebl Readers pose tax questions on how to justify repairs, handle capital gains on a residence and com...
  • Senior Partners - 1 Think how rural communities could rejuvenate if farmland rents stayed local rather than flowing t...
  • Sample With Precision Dan Davidson looks at how to measure the horsepower of your soil with the Solvita soil respiratio...
  • USDA Defines Actively Engaged Under the 2014 farm bill, family operations are exempted from proposed changes in actively engage...
  • New Paths Max payments forecast in areas of hardest-hit 2014 corn yields.
  • She's Got It All Alicia Mielke is a farm girl originally from Harrington, Wash., who continues to lend a hand to h...
  • Ask the Vet Would a bull with an undescended testicle or one that was a hard pull at birth be worthy of breed...
Related News Stories
Ask the Taxman by Andy Biebl
IRS Resets Clock on ACA Penalties
Permanent Section 179 Fix
Ask the Taxman by Andy Biebl
Down but Not Out
Tax Outlook
SCO Sticker Shock
Ask the Taxman by Andy Biebl
Fines for Fringe Benefits