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Tax Cuts and Jobs Act Affects Farmers

Tax Cuts and Jobs Act buttons in a pile. Image by shutterstock.com/cbies.

AUBURN UNIVERSITY, Ala. – Many farmers and ranchers will benefit from tax law changes brought about by last year’s Tax Cuts and Jobs Act (TCJA). Producers should be aware of changes and how they will affect the operation’s bottom line. Kevin Burkett, a Farm and Agribusiness Management Team regional agent, suggests contacting a tax professional to discuss changes and their ... Read More »

Interpreting the Tax Cuts and Jobs Act

Tax Cuts and Jobs Act buttons in a pile. Image by shutterstock.com/cbies.

AUBURN, Ala.—The new Tax Cuts and Jobs Act will benefit many individuals and businesses. While most of the business changes are permanent, many individual provisions will end Dec. 31, 2025. Dr. Robert Tufts, a visiting professor with the Alabama Cooperative Extension System, suggests contacting a tax professional to discuss these changes and their potential effects on individuals and businesses. Tufts ... Read More »

Alabama Extension to Host QuickBooks Pro Class

quick books pro

AUBURN, Ala. – Alabama Extension will host a series of instructional classes on the QuickBooks Pro software. The classes will help farmers and small business owners learn how to get the most out of this widely used program. Each section will last two nights with one class held on Tuesday night and the last class on Thursday night. Each class ... Read More »

Tax Implications of Selling Cattle During Drought

cattle sale tax

AUBURN, Ala. – Cattle producers in north Alabama are facing drought conditions. In extreme cases of drought, producers may have to reduce their herd size to take the stress off their pasture. Selling such a large number of cattle at one time can raise concerns about the tax consequences from these sales. Producers are often looking for ways to postpone ... Read More »

Alabama Extension Expands Estate Planning Program

estate planning

AUBURN, Alabama–Death and taxes—there is that old joke about two certainties in everyone’s life.  But handling even just the basics of estate planning will make life easier for your family after your death. Dr. Robert Tufts, an attorney with Alabama Extension, understands that estate planning can require difficult decisions for some people. “But something is going to happen to everyone ... Read More »