Tax planning is important for farmers every year, but a farm financial consultant says it is even more so this year.

Tina Barrett with Nebraska Farm Business says many farmers will have significantly higher income to report.

“Just, if nothing else, with the amount of programs out there from the stimulus—whether we’re talking about the PPP loans or the CFAP payments—there’s a lot of additional revenue out there,” she says.

Barrett says that will make tax planning more challenging this year.

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