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Displaying 1021 - 1030 of 3291
Business Entity
Forage15 32,12889,052
Other Crop16 31,41626,144
Government … Payments17 21,53737,714
Crop Insurance Proceeds18 32,89474,810
Machine … Repairs25 1,9464,883
Seed/Other Crop Expense26 56,71383,763 …
Business Entity
Forage15 28,52918,332
Other Crop16 63,24120,426
Government … Payments17 32,41630,447
Crop Insurance Proceeds18 6,5246,474
Machine … Repairs25 1,7353,232
Seed/Other Crop Expense26 68,69471,489 …
Business Entity
Forage15 29,65957,549
Other Crop16 2,03914,914
Government … Payments17 21,40830,126
Crop Insurance Proceeds18 73,842141,747
Machine … Repairs25 2,27114,034
Seed/Other Crop Expense26 68,57296,031 …
Business Entity
Forage15 28,63732,479
Other Crop16 16,7861,361
Government … Payments17 42,28625,094
Crop Insurance Proceeds18 147,20688,057
Machine … Repairs25 4,9013,287
Seed/Other Crop Expense26 55,71772,671 …
Business Entity
Forage15 14,2174,469
Other Crop16 11,16829,075
Government … Payments17 26,74828,039
Crop Insurance Proceeds18 18,6129,872
Machine … Repairs25 2,7415,956
Seed/Other Crop Expense26 86,72596,415 …
Business Entity
Forage15 26,56313,655
Other Crop16 29,60619,073
Government … Payments17 39,41339,456
Crop Insurance Proceeds18 15,98113,405
Machine … Repairs25 4,7217,283
Seed/Other Crop Expense26 78,23991,199 …
Farm Type
CROP FARM … 586
16 OTHER CROP … 2,860
18 CROP INSURANCE PROCEEDS …
September 30, 2016
Wind Energy Leases
Stillwater, Oklahoma. This publication is printed and issued by … other sources, and
due to market conditions, peak power can … transmission systems, pow-
er marketers and government agencies in …
August 15, 2016
Breakout session presentations
Depreciation allowed or allowable• Fair Market Value (FMV)• Special use valuation on real estate (2032A elections)• … Basis reduction is $0 when the aggregate of the basis of the property held by the taxpayer immediately after the discharge did not exceed the aggregate of the liabilities of the taxpayer immediately after the discharge
Transactions that Create Tax Challenges:
Bunching of Income:
Betty Beans carries forward grain from 2015 to be sold in 2016. Betty cannot get credit to put in 2016 crop, her operation is shut down. She has no production expenses to offset carryover income. Betty will be subject to Federal, Self Employment, and possible State Taxes
Transactions that Create Tax Challenges:
Rapid Depreciation:Fred Farmer bought a grain drill in 2014 for $50,000. His KFMA Economist recommended regular depreciation, but Fred refused to pay anymore taxes than necessary, so section 179 was utilized and $50,000 was depreciated in 2014.
Fred decided to sell the drill in 2016 to pay some debt. He received $30,000 for the drill and his tax depreciation basis was $0. Taxable gain on the drill sale was $30,000 ($30,000 sale –basis $0). Fred will be liable for Federal and possible State Taxes.
Transactions that Create Tax Challenges:
Property turned over to lender (same as sold outright):
Jim decides to turn his planter back to CNH Capital since he can’t make the payments. He has a basis in his planter of $10,000. The FMV of the planter is $65,000 and he owes CNH Capital $90,000. CNH Capital is willing to take back the planter to satisfy the loan.
Jim’s Planter Turn back?
Recourse Debt
DEBT …
Farm Type
Crop Irrigated (61 FarmsCrop Non-Irrigated (887 Farms)
Income … Forage15 8,16415,643
Other Crop16 6,5228,195
Government … Payments17 39,53638,601
Crop Insurance Proceeds18 93,67241,612
Machine …