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Agriculture

Farm taxation is a unique area of tax law. There are many planning opportunities for farmers, and likewise there are many pitfalls to be avoided. As you might expect from the locations of our offices in southeastern Indiana, the agriculture industry represents one of the largest groups of clients served by RBSK Partners PC. We live in farming communities and several of our tax professionals were raised on family farms. We work hard to stay abreast of all recent developments in Ag taxation to give our farm clients the best possible advice.

Some examples of tax laws with unique application to the agriculture industry are:

  • CCC loans and accounting method elections
  • Spouse rental arrangements
  • Section 1031 like-kind exchanges
  • Charitable gifts of raised commodities
  • Qualified conservation charitable contributions
  • Section 199 production deduction for ag growers and producers
  • Farm income averaging
  • Wages paid with commodities

 

 

 

RBSK Partners has teamed up with TASC, a third-party administrator, to assist clients with establishing health care plans that can help them save substantial amounts in taxes.  You can read more about this on our AgriPlan page.

 


 

Decatur County Indiana Farmer

"I have worked with RBSK for many years across a range of financial and farm tax planning matters. They provide sound direction and advice in a manner that is easily understood and implemented. I feel I am getting good value and highly recommend the firm for its farm taxation expertise."

David Miers

Miers Farm Corporation