Accounting & Tax Services for Farming & Agriculture
Farming isn't just a business — it's a way of life. But the financial side of agriculture is as complex as any industry out there. Between equipment purchases, unpredictable income, crop insurance, and land considerations, the tax and accounting decisions you make have a real impact on whether the farm thrives or just survives. At Steele Martin Jones, we've worked with farmers and agricultural operations across West Tennessee for decades. We understand the rhythms of farm life, and we know that your CPA needs to be someone who gets it — not someone who treats your farm like just another small business.
Financial Challenges We Help You Solve
We understand the unique financial hurdles facing farming & agriculture. Here's what we help our clients navigate:
Equipment and Depreciation
Strategic timing of deductions for tractors, combines, implements, etc., using Section 179 and bonus depreciation based on annual income.
Farm Income Averaging
Utilizing the tax provision to spread current income over the previous three years to potentially lower the overall tax rate.
Crop Insurance and Disaster Payments
Strategic timing of reporting income from crop insurance and disaster payments to potentially defer to the following tax year.
Land, Leases, and Estate Planning
Assisting with estate planning, land ownership structures, and succession planning to keep the farm in the family and minimize taxes.
How Steele Martin Jones Works With Farming & Agriculture
We help you time equipment purchases strategically, take advantage of farm income averaging, handle crop insurance and disaster payments correctly, and plan for the long-term future of your farm through estate and succession planning.
Services for Farming & Agriculture
Frequently Asked Questions
Ready to Talk?
Let's discuss how we can help your farming & agriculture business. Schedule a free consultation with one of our CPAs.