For farmers and ranchers who use the cash method of accounting, strategically prepaying expenses can unlock valuable tax benefits. When used correctly, prepaid supplies and rent...
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Posts about Farm Taxes
Like-kind exchanges, formally known as Section 1031 Exchanges, are one of the most effective ways for farmers and landowners to defer capital gains taxes when selling farmland or...
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When you buy farmland, it is often the case that you are buying tillable acres and only tillable acres. Sometimes the farmland comes with buildings or other assets. Many times our...
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Of all the things raised on a farm, the most rewarding and the most challenging are always our children. At tax time, our kids bring us some extra joy. There are a variety of...
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When buying or selling farmland, understanding how capital gains and the calculation of an asset's basis can impact your taxes is crucial. This article explores the basics of...
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(This article was updated February 28, 2022 to include changes made to the federal depreciation rules)
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What Our Clients Say
"Because of UnCommon Farms, we are now all on the same page and making the dream of all of us working together on the farm long-term a reality.”
"Without the assistance from UnCommon Farms, we would not have known where to start in hiring our finance employee. They walked us through the entire process and continue to train our new hire and train us how to manage him.”
“Through UnCommon Farms, I was able to attract another son back, I was able to attract a son-in-law back, and then this spring, I had a second son come back. I was able to attract a lot of good management.”
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