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Blog Agribusiness
New tax savings for farmers buying capital assets
Farmers who are thinking of buying a major capital asset like machinery or equipment may soon see significant tax savings. In the 2021 federal budget, important changes were proposed to the capital cost allowance rules.
Jun 28, 2021
Farm Series ( use going forward)
Blog Agribusiness
The drawbacks of deferring taxes
Most businesses must pay taxes on all income, including accounts receivable and inventory in the year they are created. However, farm businesses are one of the few exceptions, as they are permitted to pay taxes on a cash basis.
Jun 17, 2021
Farm Series ( use going forward)
Blog Tax advisory Agribusiness
The pros and cons of being classified as a hobby farmer
Know your farm classification to stay tax-compliant and plan ahead.
Katya Loree May 13, 2020
24 AR
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