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farmers Archives – Ansari Law Firm

IRS Tax

Changes To Farmers Depreciation Deduction

Changes To Farmers Depreciation Deduction Depreciation is an annual income tax deduction. It allows a taxpayer to recover the cost or other basis of certain property over the time that they use it. When figuring depreciation, taxpayers consider wear and tear, and deterioration of the property, as well as whether…
Ansari Law Firm
November 5, 2018
IRS Tax

IRS Tax Reform Effect on Farmers Ranchers

IRS Tax Reform Effect on Farmers Ranchers Many farmers and ranchers will benefit from tax law changes brought about by last year’s Tax Cuts and Jobs Act. Here are some of those changes along with details about how they will affect farmers and their bottom line: Net Operating Losses: These…
Ansari Law Firm
November 1, 2018