October, 2011

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    October 31st, 2011


    Buildings Must Be On The Depreciation Schedule!

    We had a reader ask the following question: “My husband is a full time farmer and we are currently building a tool shed that will be done by the end of 2011. Will we be able to deduct the whole cost of the building or will it need to go on a depreciation schedule. Thanks […]

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    October 27th, 2011


    Evidence of Combine Operation

    I have been teased by several readers that there appears to be no evidence that I operated a combine on my farm road trip.  Here is a photo of me operating a brand new John Deere Combine on the Hohenberger farmer in Illinois.  Now, there is probably no evidence that I performed all combine operations […]

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    October 26th, 2011


    How Does My State Treat Bonus Depreciation

    One of the traps that we as tax advisors run into from time to time is sometimes forgetting the differences between federal and state rules for income taxation.  For example, my state of Washington does not have a state income tax, so most of the time I do not deal with state income taxes for […]

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    October 23rd, 2011


    Last Part of the Farm Trip

    On Friday I got early and drove the last 300 miles to Port Allen, LA near Baton Rouge. I met up with Keith and Heath Morris who farm sugar cane in the area. We went out into the field to watch the sugar cane be cut. The harvester only cuts on row at a time. […]

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    October 21st, 2011


    Day Four of the Farm Trip

    On Thursday, I got to spend the morning with John and Kurt Hohenberger near Leland, Illinois.  I met them this January at TEPAP and looked forward to getting out to see them.  They had just put in a new grain handling system at the home site and we were able to get out in the […]

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    October 20th, 2011


    Day Three of the Farm Trip

    Yesterday I spent the day near Independence, Iowa with Chris Barron of Carson and Barrron Farms, Inc. Chris and his team of farmers farm about 7,000 acres along with a custom farming and seed sales business. I will write a later blog on what his team is doing. We spent most of the day moving […]

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    October 18th, 2011


    The Farm Road Trip – Day 2

    I posted yesterday that as usual I brought the rain with me to Kansas City, however, I did get to ride the combine for one trip around the field before the rain came and stopped us. Bean yields in the area seem to be pretty good compared to normal.  Many fields are  yielding in the […]

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    October 17th, 2011


    My Rain Day

    It seems as usual when I come to Kansas City for harvest I always bring the rain with me. Today is no exception and it appears I will spend it driving around checking out the flood damage. The goal is to get some combining in tomorrow up near Mason City, Iowa. I will keep you […]

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    October 14th, 2011


    Driving or Running A Combine – It Is Still FUN!

    I have had a couple of readers tease me about using the term driving a combine.  They would normally use the term operate or run, but all I know is that I am looking forward to getting in the combine (and I think all four that I will be in are green for those who […]

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    October 13th, 2011


    The Ultimate Farm Trip

    For this CPA, April 15 is not the wild deadline, it is October 15.  This is the time of year when it can be very difficult to get information from our taxpayers and it is always a wild scramble to the finish line.  I think the latest I have gotten into the office so far […]

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