The USDA’s Conservation Reserve Program makes payments to landowners that require them to implement conservation measures. A federal appellate court, reversing a Tax Court decision, makes it clear that CRP payments to landowners who don’t personally farm the land are treated as rental income (not business income for self-employment tax purposes).
Are you self-employed? There’s a book for that … you’ll want your copy of J. K. Lasser’s Guide to Self-Employment: Taxes, Tips and Money-Saving Strategies for Schedule C Filers to guide you through tax planning and so much more- available on Amazon!
Have you heard? The new 2015 edition of my tax books, J.K. Lasser’s Small Business Taxes 2015 and 1001 Deductions and Tax Breaks, are available from Amazon now!
