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    February 18th, 2015


    Here We Go Again

    Yet again, we have additional guidance on health insurance arrangements where employers reimburse employees for individual health insurance policies or pay individual policy premiums directly.  These types of arrangements, called employer payment plans, are disallowed by the ACA and are subject to steep excise taxes.  In Notice 2015-17, the IRS made some transitional relief available […]

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    February 16th, 2015


    You Don’t Need to File Those Form 3115s After All

    The IRS had issued new Regulations more than a year ago dealing with repairs, materials and supplies and related capitalization of asset purchases.  In my opinion the new Regulations were actually fairly taxpayer friendly, however, there was much discussion by many firms that all taxpayers would be required to file a Form 3115 (a form […]

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    February 16th, 2015


    Join US For AICPA Ag Conference in July

    The final agenda for the 2015 AICPA Ag Conference is just about complete and I think it will be as good or possibly even better than the 2014 Ag Conference held in Austin, Texas last May.  There will be good mix of presentations.  There will not be just one focus on tax, accounting or producers, […]

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    February 13th, 2015


    Will FAV Favor ARC-IC

    For  farmers who grow vegetables (sweet corn, sugar beets, green peas, etc.), a reduction in their base acres for payments may occur each year.  FAV (fruits and vegetables) requires farmers to reduce their base acres for acres planted to either fruits or vegetables.  Since the new programs do not make payments on all base acres, farmers […]

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    February 11th, 2015


    Harvert Price Option Event on the Hill

    Tomorrow, February 12, 2015, Senator Jeff Flake (R-AZ) and Representative John Duncan Jr. (R-TN) will introduce legislation pertaining to the Harvest Price Option (HPO) available for most revenue crop insurance programs.  The HPO allows for a claim when prices are actually higher than the initial discovery price.  For example, during the 2012 drought, having this option […]

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    February 10th, 2015


    Is a Bird in Hand Worth 4 in the Bush?

    For many of our farmers mulling the decision between ARC and PLC it comes down to is it better to grab the “bird in hand” by electing ARC-CO on all corn acres (and wheat in the Pacifc Northwest) versus electing PLC in case prices go low for several straight years. I have run numerous calculations […]

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    February 9th, 2015


    How Do Repair Regulations Affect My Farm Operation?

    The IRS issued new regulations on how to account for repair and maintenance costs and the required capitalization of fixed assets purchases about a year and half ago and most of the provisions are now effective with tax returns beginning January 1, 2014.  I have taught on this subject at several tax CPE classes in […]

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    February 6th, 2015


    My Neighbor is Getting an ARC Payment, Why Not Me!

    I am starting to hear some of the “coffee talk” about neighbors getting ARC-CO payments for corn this year, but the farmer is not getting one and they ask “How can that be?”.  Now, the term neighbor can be a little borad since the neighbor may be 10-20 miles away, however, they may be at least […]

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    February 6th, 2015


    Excessive Claims for Fuel Tax Credits Makes the IRS “Dirty Dozen List”

    The IRS just released a bulletin yesterday announcing that filing tax returns claiming excessive amounts of fuel tax credits is now on their “Dirty Dozen” list of tax scams for the 2015 filing season.  We find that most farmers purchase fuel that is exempt for state and federal gas taxes for those gallons that are consumed […]

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    February 5th, 2015


    Estimated Wheat ARC-CO for PNW Counties

    I spoke at the Spokane Farm Forum yesterday on the choices between ARC-CO and PLC and thought I would update estimated net payments for wheat ARC-CO for some of the counties located in the Pacific Northwest.  Based on actual state data, Washington, Oregon and Idaho are estimated to have the largest wheat ARC-CO payments for […]

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