Rural Money Segment: Tax court issued ruling allowing farmer to use old tractors
Paul Neiffer says the case shows that farmers need to maintain good records.
A recent tax court ruling indicates producers can decide to farm how they want without the IRS disallowing expenses. However, it also highlights the need to maintain good records.
Paul Neiffer with Clifton Larson Allen spoke with RFD-TV’s own Janet Adkison about the case that allowed a farmer with more than 40 tractors to deduct all of them, some of the takeaways, and what contributed to the court’s decision.
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