Tax Planning

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Avoiding the Year End Scramble

An African proverb states, “The best way to eat an elephant in your path is to cut him up into little pieces.” Preparing for business taxes at the end of the year can seem like eating an elephant – an overwhelming task. Cutting up the work into smaller pieces, and…

January 22, 2024

Top 10 Tax Questions

10. I contributed money to my kids’ 529 education plans. What is the deduction for that? A: Federally, none. The money grows tax free and comes out tax free as long as it’s used for qualified educational expenses. In certain states with a state income tax, there are possible deductions…

January 22, 2024

AG Producers – Planning Ahead Can Save You Thousands!

During the Fall season, I encourage Ag producers to pause and take some time to get caught up with their yearly bookkeeping. They should also spend some time reflecting on the current year and think about their plans and opportunities for the upcoming year. Accurate, up-to-date bookwork is essential to…

October 9, 2023