Farm Tax Preparation & Planning - Agricultural CPA

Specialized Tax Expertise for Farmers & Agricultural Businesses Nationwide

Farms and agricultural operations face unique tax challenges - from seasonal income fluctuations and equipment purchases to crop insurance payments, subsidies, and land-use credits. At Precision Accounting, we combine decades of CPA experience with an in-depth understanding of agricultural tax law to serve clients across the United States. Whether you operate a small family farm, a large dairy, or a diversified ranch, we can help you file accurately, plan strategically, and keep more of your hard-earned income.


Contact Us today to schedule your farm tax consultation.

Farm Tax Preparation Services

We prepare farm tax returns for operations of all sizes and specialties, ensuring compliance with IRS rules while maximizing your available deductions. Services include:

01.

Schedule F preparation for farm income and expenses

02.

Depreciation of farm equipment and vehicles

03.

Reporting crop and livestock sales

04.

Cooperative distributions and rental income from farmland

05.

Guidance on special provisions like farm income averaging to reduce taxes during high-income years

Our farm CPA team understands that every operation is different. We tailor our services to your location, crop/livestock type, and financial structure.

Tax Planning for Farmers & Ranchers

Your tax strategy should work as hard as you do. We help you:


  • Time equipment and supply purchases to maximize Section 179 deductions


  • Manage the tax impact of crop insurance, disaster payments, and subsidies

  • Estimate quarterly taxes to avoid underpayment penalties


  • Prepare for generational transfers or ownership changes


We offer year-round planning sessions - including post-harvest reviews - to help you take advantage of opportunities before the tax year closes.

Integrated Farm Bookkeeping Support

Accurate records are essential for effective tax preparation. If you need help keeping your books in order, we can assist with farm-specific accounting systems, including QuickBooks setup and training. This ensures every expense and income source is documented, making tax season far smoother. Learn more on our Bookkeeping Services page.

Nationwide Agricultural Experience

From dairy farms in the Midwest to cattle ranches in the Southwest, we've worked with agricultural clients across the U.S. Our experience spans a wide range of farm structures and commodities, giving us the insight to address both common and uncommon tax situations.

Common Questions About Farm Tax Prep

  • Can my farm equipment purchase be written off in one year?

    In many cases, yes. Section 179 allows you to deduct the full purchase price of qualifying equipment in the year it's placed in service, subject to IRS limits.

  • What is farm income averaging and how can it reduce my taxes?

    Independent, tailored portfolios, consistent with your risk profile, designed to grow over time and provide ongoing income to support your lifestyle

  • Do part-time farmers need to file a Schedule F?

    If you operate your farm with a profit motive, you generally must report your income and expenses on Schedule F, regardless of part-time status.

A line drawing of a farm with a silo and barn.

Helpful Farm Tax Resources

To save time and stress at your appointment, download our Schedule F Worksheet from the Resources page. It's designed to help you organize income and expense categories before meeting with us.

Ready to Focus on Your Farm, Not Your Taxes?

Farming is more than a business - it's a way of life. Let our agricultural tax specialists handle the paperwork while you focus on what you do best. Contact Us to schedule your farm tax preparation or planning session today.

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