Harvesting Hidden Tax Deductions using Section 180

Farm4Profit Podcast

Visit www.farm4profit.com for more information on Boa Safra Ag

Wheat tip sponsored by www.estesperformanceconcaves.com

• Who is Boa Safra?
• History, Mission, Vision
• Started in 2019, in 40+ states, generated over $500 million deductions for clients
• Help maximize farm tax deductions for recently acquired farmland
• Uses the tax credit program for nutrients in the soil to get money back
• owner-operators, brokers, banks & mortgage lenders, land investors, CPA firms
• The Process:
• Sampling and mapping soils
• Establishing nutrient values
• Generating comprehensive report
• Elaborate on the process by which taxpayers can allocate part of the purchase price of farmland to excess fertilizer or nutrients, as explain in the IRS section 180 report
• What potential risks or challenges should taxpayers be aware of when considering the utilization of IRS section 180 deductions for recovering the value of residual fertilizer?
• Could this go away?
• How does Boa Safra assist owner-operators in quantifying the volume and value of legacy nutrients in their soils for the purpose of capturing federal tax deductions?
• How long after a farm purchase can you do it?
• How does Boa Safra adapt its services to meet the unique needs and preferences of different client types?
• Explain the process the determines valuations for residual fertility loads
• Are there specific requirements or regulations that clients need to be aware of in order to claim the pre-existing soil fertility load deduction for agricultural production?
• The process:
• What specific nutrients are tested for during the soil analysis process?
• How do you ensure the accuracy and reliability of the data?
• Are there additional support service offered by Boa Safra?
• Tax filing process?
• Does it matter if its owned in a trust or LLC or partnership or individual?
• What did we miss?

• Summary and Challenge

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