What accounting methods do producers need to keep in mind when it comes to deductions?

There are multiple accounting methods when it comes to reporting income and deducting business-related expenses, and while some may offer potential benefits at times, certain rules apply when a taxpayer changes from one method to another.

Roger McEowen with the Washburn School of Law spoke with RFD-TV’s own Tammi Arender on main methods for farmers, acreage allotments, and a recent case in Arkansas.