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.
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.
