Farmers have been particularly affected by complexities in the new tax law. Due to this, the IRS announced today, February 28, qualifying farmers may file their returns…… Read more “IRS Extends Farmer Deadline”
Author: Administrator
Three buckets for cooperative sales
As if all of the changes in the federal tax code (and the noncompliance by Iowa) in 2018 weren’t enough, we find the situation further complicated for…… Read more “Three buckets for cooperative sales”
Underpayment penalty relaxed
IR-2019-03, January 16, 2019 WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income…… Read more “Underpayment penalty relaxed”
When will tax season start?
With much of this website devoted to the major changes in the Federal tax code, one may wonder how their own taxes will fare. As of this…… Read more “When will tax season start?”
New internet provider
We’ve always believed in ‘keeping it local’ whenever possible. We’re in the process of moving our internet service to Southwest Iowa Fiber Technology in the very near…… Read more “New internet provider”
Email crash
In changing web hosting vendors, we managed to crash our e-mail for a day on August 2nd. It all seems to be working well now. We apologize…… Read more “Email crash”
The “fix is in” on Sec 199A deduction
It sounds like Congress has done it again! In their ‘fix’ of the new Section 199A deduction, they’ve added additional complications and calculations. According to Iowa State’s…… Read more “The “fix is in” on Sec 199A deduction”
“Extenders” renewed for 2017 returns
Congress has renewed a few tax breaks that had expired on 12/31/16. Among them: Itemized deduction for qualified mortgage insurance premiums Above-the-line deduction for tuition and fees…… Read more ““Extenders” renewed for 2017 returns”
Should I sell grain only to co-ops?
There’s been a suggestion that the 2018 tax bill gives a great advantage to farmers selling grain to cooperatives. This relates to the new Sec. 199A deduction,…… Read more “Should I sell grain only to co-ops?”
The wonderful world of taxation
Do you have a question about taxes you’ve always wanted answered, but were too afraid to ask? This is your opportunity to ask a question, share an…… Read more “The wonderful world of taxation”