date:Oct 24, 2012
If you're like many farmers whose crop yields have been gutted by drought this year, you're likely deriving some -- if not most -- income this year from crop insurance. This has a lot of implications, tax-wise. It can put you in something of a unique tax bind, one expert says. So, what can you do to avoid that bind?
A combination of using cash accounting and contract-selling grain, in a year when much of that grain-sales income instead comes from crop insurance, can lead to a bunching of income