Instead, they are added to the basis of the land. Under a crop-share lease, these expenses are limited to 25 percent of the gross income from farming for the year. The unused deduction can be carried over to later years, but under the same limit each year. More information is available in the Farmer's Tax Guide, an IRS publication available free of charge at most county extension offices. Some libraries and post offices have free IRS publications and forms.
Computers can download forms and publications as well as assist in filling out a form to be printed.
Professional tax preparation can save you time, effort, and possibly money compared to you preparing your own taxes. Complete and accurate information is still needed. Put simply, paying off debt and reducing the amount of interest paid is one of the best investments a consumer can make. A program available from Iowa State University Extension gives consumers a visual picture of how they can reduce repayment periods and the money required to pay off debt. The PowerPay computer debt analysis program first calculates what repayment time and interest costs will be if a consumer continues making payments at the current level.