Be Careful of Promoters Touting R&D Credits for Farmers

We having gotten several emails about promoters indicating farmers qualify for R&D credits for "simple" farming practices. Be careful.

Photo by Annie Spratt on Unsplash

Just in the last couple of weeks we have gotten several emails about promoters touting the benefits of R&D tax credits for crop farmers. They indicate that if a farmer changes their farming practices, such as planting cover crops, different hybrids, etc. that almost all of the costs related to these “new” practices will qualify for an R&D tax credit which can be fairly high if the base amount the promoter is using is all of your farm input expenses.