Introduction It’s that time of year again…tax time. Many farmers have already filed March 1, others will file by May 17 (the normal filing [...]

While 2020 was a challenging year in many ways, farm incomes were relatively strong in parts of the Midwest. These income levels often give [...]

Introduction So far in this blog series we’ve discussed setting your business up for payroll, calculating a paycheck, the difference between pre- and post-tax [...]

Introduction So far in our payroll series, we have discussed how to prepare your business for payroll, how to calculate a paycheck, what the [...]

In an earlier blog post, we discussed how to set your business up for payroll. Once your business is setup for payroll, the next [...]

As farm families across the Midwest get busier each year, the need for part-time, hired help becomes prevalent.  However, it’s not as easy as [...]

Farming in the modern era is a skill that must balance biology and agronomy with cost and markets. Thus, it’s important to understand what [...]

It is important to understand the different 1099 forms as they are a necessary component of tax planning and preparation.

Each year taxpayers have the opportunity to work with their tax preparer to craft a year-end tax plan that provides a desired tax liability. [...]

Depreciation is a term you’ve probably heard your accountant use fairly often; understanding its full meaning and financial implications is important to make strategic [...]