Tell Congress to Protect Cash Accounting for All Active Farmers Regardless of Ownership Structure.
Cash vs. Accrual Accounting – Impact of Proposed Changes
Congress is considering a proposal that would require the use of accrual accounting for tax purposes by agricultural operations with more than $10 million in aggregated gross receipts.
The proposed reporting changes will impact the ability of producers to:
- manage year-to-year risk
- build working capital, and
- create long-term stability for their operations
For decades, ag businesses have used cash-basis accounting for tax purposes to balance out price volatility and help manage their operations consistent with their cash flow.
In the News
Bill Does Not Restrict the Ability of Farmers and Ranchers to Use Cash Accounting (Nov. 2, 2017) – Farmers for Tax Fairness, a national coalition of farmers and ranchers, today applauded the U.S. House of Representatives for not restricting the use of cash accounting...read more
Leading Ag Consulting & CPA Firm Calls on Congress to Shape Tax Reform to Boost U.S. Agriculture (Sept. 27, 2017) – K·Coe Isom, the nation’s leading agricultural accounting and consulting firm, today applauded the U.S. House and Senate leadership and the White House...read more
A letter to U.S. senators on tax code and access to cash accounting for agricultural businesses.read more
Doug Claussen Highlights Farm Tax Issues for Congressional Consideration (April 5, 2017) –Congress is weighing significant changes to the way farmers and agribusinesses are taxed, which could have a profound impact on how they do business. With tax reform holding...read more
Find out how you can help stop these proposed changes from becoming law and taxing you unfairly.
The ag community needs a voice. The ag community needs you.