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Retaining Cash Accounting for Tax Purposes Benefits Farmers

The Farm Financial Standards Council is encouraging retention of cash method accounting for tax purposes for farmers as opposed to proposed changes adopting accrual accounting for smaller farm and ranch operations. Cash accounting, combined with the ability to accelerate expenses and defer income, gives farmers and ranchers the flexibility they need to optimize cash flow for business success, plan for business purchases and manage their tax burden by targeting an advantageous level of taxable income.


Farm Bureau supports the continuation of unrestricted cash accounting currently available to most farmers and ranchers.