Moving Iron Podcast Tax Moves With Glen Birnbaum 9 - 6-18

Glen talks more about the difference between book income and tax income aka Accrual basis vs cash basis Typical adjustments: Book depreciation Prepaid crop expenses Prepaid rent Accrued Rent Valuing grain at market Marking open grain contracts to market Accrued interest Current maturities of long term debt Accrued income taxes This is all present true profitability for the farm and ties right in with crop budgets for next year