Rural Money: Tax Tools Available for Ranchers Facing Drought Sales

Farm CPA Paul Neiffer says producers forced to sell livestock due to drought may have several tax options available.

PARKER, Colo. (RFD News) — Dry conditions continue creating difficult decisions for some ranchers across agriculture, including whether livestock herds may need to be reduced because of drought.

Farm CPA Paul Neiffer joined us on Thursday’s Market Day Report segment to discuss some of the tax tools and elections available to producers impacted by drought-related livestock sales.

In his conversation with RFD News, Neiffer explained several tax elections producers may be able to use when forced to sell excess livestock due to drought conditions.

The discussion also focused on which options may work best for many operations and some of the first steps producers should take when evaluating their situation.

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Knoxville native Neal Burnette-Irwin is a graduate from MTSU where he majored in Journalism and Entertainment Studies. He works as a digital content producer with RFD News and is represented by multiple talent agencies in Nashville and Chicago.


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