Articles tagged under: Tax Preparation

Published December 14, 2022

We conclude our year-end tax tips series with NSDU Extension Farm Management Specialist Ron Haugen. Haugen says one way to reduce tax liability is through retirement planning. "Even if you're young, you have to think about retirement. It's a good…

Published December 14, 2022

We continue our series of end-of-year tax tips with NDSU Extension Farm Management Specialist Ron Haugen. We talked about deferring income and spreading income to other year for grain farmers, but Haugen says livestock producers can also use income deferral.…

Published December 14, 2022

Our year-end tax planning tips continue with NDSU Extension Farm Management Specialist Ron Haugen. Haugen tells farmers to consider income averaging. "It's not the same as a net operating loss. If you have a higher income one year, you can…