Drought conditions impact farmers and ranchers. Often times, weather related decisions alter production decisions including purchasing feed, selling cows or changing production schemes. These decisions can have financial and tax implications.
Colorado State University has tax information available to farmers and ranchers to assist in decision making under stressful conditions.
It is important that producers understand the production financial and tax implications of their decisions.
Resources available:
· Livestock sales facts – Rural Tax Education
· Other Tax related resources – www.ruraltax.org (for farms, ranches, and small businesses to gain valuable knowledge and useful tools to the tax code).
· Decision tools – www.wr.colostate.edu/ABM (related to beef and cattle).
For more information or if you have any questions, please contact:
Jeff Tranel
Agricultural & Business Management Economist
