Agricultural Accountants

Why choose a CPA firm that specializes in farms?

Choosing a CPA firm that specializes in farms makes a lot of sense for you and your business. While certain aspects of your return are similar to other industries, how farm specific issues are handled can make a significant difference in the outcome of your return.

For example:
  • Were your fixed asset additions and dispositions handled in the correct manner? 
  • Is your farm income being taxed at the correct rates?
  • Should part of your income not be subject to self-employment tax?
  • Is your health insurance being handled in the most tax advantageous manner?
  • Why would you ever elect to pay optional self-employment tax?
  • Is your Domestic Production Activities Deduction reported correctly?
  • Are your patronage dividends all taxable?
  • What are your tax options regarding receiving government payments and grants?
  • Do you know when you can defer the taxability of crop insurance payments to the following year?
  • Just how much can be prepaid at the end of the year? What items can be prepaid?
  • Does it make sense to Farm Income Average this year?
  • When should you not fully depreciate your current year equipment purchases?
  • Why should all farmers do tax planning prior to the end of the year?

At BHT&D CPAs, these are just a few of the many specific questions we consider when preparing your return. Through seminars and other training, we stay current on the latest farm tax laws so we can continually serve our farm clients at a high level.

If you are not presently a client, contact us today so that we can help minimize your tax bill.