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.
Related Stories
A Handshake Deal and a $16.5 Million Tax Bill: Why the IRS May Not See Your Farm Loan the Way You Do
Farm legal expert Roger McEowen shares a recent court case illustrating how informal loans can create major tax issues for farms and ranches in the eyes of the IRS.
Only 6% of surveyed farmers cited AI as a trusted decision source, compared with 56% for technical agronomists.
Fred Nichols at Huma says growers should evaluate yield records, nutrient needs, fertilizer prices, soil health, and timing to determine the fall fertility strategy that best fits their operation.
Think applying an insecticide to your soybean field automatically pays for itself? You would be mistaken. University of Illinois Extension field crops entomologist Nick Seiter says it does not.
Nearly 30 million additional acres will enter the safety net beginning with the 2026 crop year.
Farm Bureau says development, high land values, and farm economics are putting pressure on U.S. farmland as farm numbers and acres decline.
