A livestock income deferral is available for those who had a forced sale of livestock because of a weather-related disaster, such as drought, shares NDSU Extension specialists.
Agricultural producers should do tax planning before the end of the year.“It is the time of year to think about year-end tax planning,” said Ron Haugen, North Dakota State University Extension farm management specialist. “When tax planning, it is best to start with year-to-date income and expenses, and estimate them for the remainder of the year,” said Haugen. “Estimate depreci...
To access content, please login or purchase a subscription.