Caff

FEBRUARY 25, 2022

The software review guide provides a list of accounting options ** Our content is intended to be used and must be used for informational purposes only. Every business has different needs, and none of the information provided in this article is intended as financial advice. Please do your own research and speak with your accountant or financial advisor for specific financial recommendations.** The number of free and low cost accounting software options available has exploded in the last 10 year

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Agribusiness Blog

FEBRUARY 24, 2022

It appears this is our week for discussing March 1 farm filers. We have gotten a few comments or emails regarding the farmer’s “due date” March 1 is not a due date for farmers. The due remains April 15 (or the 18th this year). March 1 simply allows the farmer not to have to pay any estimated taxes on January 15. The due date for the farmer remains April 15.

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Agribusiness Blog

FEBRUARY 23, 2022

As we indicated in yesterday’s post, many farmers try to file and pay 100% of their income tax by March 1 each year. For most years, this can be a straight-forward process, but this year is not one of those years. The IRS initiated a new Form 7203 to track the income tax basis in S corporations. This form is required to be attached to the Form 1040 that a farmer is trying to file by March 1.

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Caff

FEBRUARY 23, 2022

What’s needed in California for small farms, sustainable agriculture and local food systems to truly thrive, find equity, and remain resilient in the face of adversity? In the fall 2021, CAFF went to the source to find out, conducting a statewide intensive listening process. We engaged nearly 350 growers through multilingual farmer surveys, in-person gatherings, and one-on-one conversations.

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Agribusiness Blog

FEBRUARY 22, 2022

Farmers who file and pay all of their income tax by March 1 are allowed to not make an estimated tax payment on January 15. This is commonly called the farmer tax due date. However, it is not a formal due date but rather just allows the farmer not to have to make any estimated tax payments. The IRS released IR 2022-39 on the 17th reminding farmers that deadline was approaching.

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