The Farm + Ag CPA Show
A podcast for crop farmers with 2,000 to 20,000 acres aiming to increase profits and stay current in a changing agricultural landscape. Topics cover how to save more money, lower your taxes significantly, prepare for land purchases, secure retirement finances, and protect your farm and family.
Operating vs. Capital Expenses: A Farmer’s Guide to Deductions
Tax season can be a daunting time for farmers, especially when it comes to understanding the nuances of deductions. Knowing the difference between operating and capital expenses is crucial for maximizing tax savings and ensuring compliance with IRS regulations. This guide will break down these categories and provide examples to help you confidently categorize your farm expenses.