NEWS
Taxlink by Andy Biebl
Andy Biebl DTN Tax Columnist
Fri Jul 10, 2015 06:26 AM CDT

This calendar year is predicted to deliver the worst economics in grain farming in 20 years. Low grain prices and high input costs could actually lead to an operating loss, unless yields come in exceptionally high. However, this looming dark cloud may have a silver lining in the form of tax benefits.

AVOID ZERO TAXABLE INCOME

Reporting zero taxable income and taking a one-year vacation from paying federal income tax may seem like a satisfactory outcome in a difficult year. But this result overlooks the fact that some farm expenses, as well as personal exemptions and itemized deductions, are producing ...

Quick View
  • Enlist Cotton Approved USDA has made its final decision to deregulate Dow AgroScience's Enlist cotton trait, which means...
  • Market Moves Weaning and preconditioning top the list of aggravating and expensive chores for most ranchers. C...
  • Ask The Mechanic Ask the Mechanic answers the question about how VW and German engineering was able to get by with...
  • Batten Down the Hatches Purdue economists forecast multiple years of negative or narrow margins for corn and soybean prod...
  • PNW Ag Hit by Historic Drought In addition to problems with the Northwestern wheat crop, cattle are also being adversely affecte...
  • RFS Deadline Nears With the deadline to file comments on the proposed Renewable Fuel Standard volumes to strike at m...
  • Woodbury: Farm Family Business Agendas don't always lead to immediate decisions, but can still cement your family unity.
  • Multi-Year Losses Spur Concern The recent price rally offered growers a welcome opportunity to price 2014 and 2015 crops, but it...
  • Ask the Vet The vet says my calf had Mannheimia. What is that?
Related News Stories
Senate Panel OKs Tax-Extenders Bill
Ask the Taxman by Andy Biebl
Ask the Taxman by Andy Biebl
Ask the Taxman by Andy Biebl