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Displaying 2351 - 2360 of 5205
Detailed Cost-Farm Type
Crop Non-Irrigated 32 Farms
14262312
Harv … Farms
14262312
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 32,501 14.06 22.79
4,1534,153Crop Mach Repair 4,153 1.80 2.91
731731Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 56 Farms
22312855
Harv … Farms
22312855
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 2,861 41,761 14.63 18.72
9494Crop Mach Repair 94 0.03 0.04
635635Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 24 Farms
19862780
Harv … Farms
19862780
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 42,066 15.13 21.18
8,2548,254Crop Mach Repair 8,254 2.97 4.16
1,2221,222Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 183 Farms
16321569
Harv … Farms
16321569
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 19.46 18.70
8,718-28-118,757Crop Mach Repair 8,718 5.56 5.34
283283Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 123 Farms
12111194
Harv … Farms
12111194
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 25,396 21.26 20.97
9,8629,862Crop Mach Repair 9,862 8.26 8.14
398398Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 43 Farms
18082280
Harv … Farms
18082280
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 44,926 19.70 24.85
430430Crop Mach Repair 430 0.19 0.24
87222850Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 126 Farms
17091546
Harv … Farms
17091546
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 24.79 22.43
14,42414,424Crop Mach Repair 14,424 9.33 8.44
410410Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 37 Farms
21082711
Harv … Farms
21082711
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 55,269 20.39 26.22
643643Crop Mach Repair 643 0.24 0.31
656656Irrigation …
January 1, 2013
Land Leasing
Forms
developing rental agreements for crop and livestock buildings and … developing rental
agreements for crop and livestock buildings
and … livestock, machinery or stored crops are located
where they cannot …
August 15, 2016
Breakout session presentations
Depreciation allowed or allowable• Fair Market Value (FMV)• Special use valuation on real estate (2032A elections)• … Basis reduction is $0 when the aggregate of the basis of the property held by the taxpayer immediately after the discharge did not exceed the aggregate of the liabilities of the taxpayer immediately after the discharge
Transactions that Create Tax Challenges:
Bunching of Income:
Betty Beans carries forward grain from 2015 to be sold in 2016. Betty cannot get credit to put in 2016 crop, her operation is shut down. She has no production expenses to offset carryover income. Betty will be subject to Federal, Self Employment, and possible State Taxes
Transactions that Create Tax Challenges:
Rapid Depreciation:Fred Farmer bought a grain drill in 2014 for $50,000. His KFMA Economist recommended regular depreciation, but Fred refused to pay anymore taxes than necessary, so section 179 was utilized and $50,000 was depreciated in 2014.
Fred decided to sell the drill in 2016 to pay some debt. He received $30,000 for the drill and his tax depreciation basis was $0. Taxable gain on the drill sale was $30,000 ($30,000 sale –basis $0). Fred will be liable for Federal and possible State Taxes.
Transactions that Create Tax Challenges:
Property turned over to lender (same as sold outright):
Jim decides to turn his planter back to CNH Capital since he can’t make the payments. He has a basis in his planter of $10,000. The FMV of the planter is $65,000 and he owes CNH Capital $90,000. CNH Capital is willing to take back the planter to satisfy the loan.
Jim’s Planter Turn back?
Recourse Debt
DEBT …