Archive - Farm CPA Report

Higher Interest Rates Lead to More CRT Funds to a Farmer

A retiring farmer who is setting up a charitable remainder trust can receive more funds due to higher interest rates

Feb 21 •

March 21 is Now the Deadline to File BOI Reports

FinCEN updated their website to indicate most entities need to file BOI reports by March 21, 2025.

Feb 20 •

Another BOI Injunction Bites the Dust

The Samantha Smith et al BOI injunction has been lifted

Feb 19 •

BOI Extension to January 1, 2026 Introduced in the Senate

Two Republican Senators introduce a bill to extend BOI reporting to the end of 2025.

Feb 18 •

Paul Was on AgriTalk

Paul was on AgriTalk last week discussing various topics

Feb 17 •

Seventh Federal Reserve District Only Sees an 1% Drop in 2024 Farmland Values

The Chicago Federal Reserve just issued their annual farmland value report and there was a minor drop in 2024 land values in their district.

Feb 14 •

House Budget Bill Authorizes up to $4.5 Trillion of "Tax Cuts"

The House finally released a budget bill and based on it you will not get a full TCJA extension

Feb 13 •

Bill to Disallow Deductions for Marijuana Businesses is Introduced

Two Senators introduced a bill to disallow deductions even if marijuana is made legal

Feb 12 •

Senate Budget Proposal Cuts USDA by $1 billion

But only over 10 years

Feb 11 •

Largest Ad Hoc Payments Since 2020 Push 2025 Estimated Farm Income to Second Highest n Last 25 Years

USDA is estimating over $42 billion of aid to farmers this year pushing income to almost record levels

Feb 10 •

Automatic 30 Day Extension on Any Possible BOI Reporting

The Government filed a motion today indicating at least a 30-day extension if they win

Feb 7 •

How Might Congress Pay for Extending the Trump Tax Cuts

Congress may enact some revenue raisers to offset the tax cuts. We review some of the possible changes.

Feb 6 •

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