Farm Tax Services
AgriSolutions offers strategic farm tax services including planning and preparation. Agriculture is a complex industry who is subject to a variety of Ag-specific tax laws, deductions and special requirements.
Since taxes play a big part of your operation’s income and profitability, it’s crucial to work with professionals who have an in-depth, working knowledge of farm tax services and the agriculture industry in general. Tax regulations continually change, and so do your operation’s expenses and income. The tax professionals at AgriSolutions understand the sophistication of farm businesses and work alongside you to help you navigate through all the complexities of tax planning and preparation.
AgriSolutions is a full-service accounting firm offering:
- Strategic Tax Planning
- Income Tax Preparation of corporate, S-corporate, partnership, estates, and trust, as well as individual returns
- Payroll reporting, including monthly, quarterly and annual reporting
- Proactive tax planning for the future
We have 3 locations to serve you; Brighton, IL, Greenville, IL and Geneseo, IL.Strategic Tax PlanningAnnual tax planning is an important and crucial part of ensuring your operation’s financial success. By planning for taxes each year, you’ll save yourself a lot of headaches in the long run because you’ll know exactly what to expect, and can proactively make necessary adjustments to avoid paying hefty tax dues. Tax planning with our Certified Public Accountants (CPAs) and Enrolled Agents (EAs), gives you an overall picture of where you are today financially, and also sets you up to reach your desired goals in the future.
Tax Planning Benefits:
- Determine short and long-term goals
- Plans of action to achieve goals
- Review and discuss continually changing tax laws
- Reduce audit risks
- Determine the potential for the future
Agricultural tax preparation from ag-experts is often confusing, overwhelming, and can be downright scary for even the most business-savvy producer. The laws and deadlines that govern farm taxes are constantly changing, making it easy to create errors and difficult to stay in compliance. Our Certified Public Accountants (CPAs) and Enrolled Agents (EAs), are well versed and specialize in agricultural tax preparation, which is why our farm tax services are so crucial to your operation’s success.
Using AgriSolutions Ag-specific tax services allows you to take advantage of:
- Special rules for farmers only.
- Tax planning for farmers using these special rules.
- Depreciation. Was the optimum amount taken?
- Prepaid farm expenses, such as feed and supplies.
- Ensure proper reporting of all farm income and expenses to minimize your tax liability.
- The tax considerations of various business structures (partnerships, S-corporations, C-corporations).