The Firm of Gardner & Billing, CPAs PLLC

Farmers and ranchers who previously were forced to sell livestock due to drought, like the one currently affecting much of the nation, have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales. Notice 2014-60. Under Code Sec. 1033(e)(2), farmers and ranchers who, due to drought, sell more livestock than they normally would may defer tax on the extra gains from those sales. To qualify, the livestock generally must be replaced within a four-year period. The IRS is authorized to extend this period if the drought continues. In Notice 2014-60, the IRS announced a one-year extension of the replacement period that generally applies to capital gains realized by eligible farmers and ranchers on sales of livestock held for draft, dairy or breeding purposes due to drought. Sales of other livestock, such as those raised for slaughter or held for sporting purposes, and poultry are not eligible. The IRS is providing this relie

We're excited to welcome our local Trick-or-Treaters for Halloween next Friday!   Preschoolers through 2nd grade: Meet at the library for group Trick-or-Treat with adults 3rd Grade and Up: Meet at the library for a list of participating businesses And don't forget Storytime Trick-or-Treat from 10:30 - 12:00 on the Courthouse Square

  Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act requires each individual to: Maintain a minimum level of health care coverage – known as minimum essential coverage , or Qualify for an exemption , or Make an individual shared responsibility payment when filing their federal income tax returns. Minimum essential coverage generally includes government-sponsored programs, employer-provided health coverage, and coverage purchased in the individual market, including the Health Insurance Marketplace.  Most people already have health insurance coverage that qualifies as minimum essential coverage, and therefore will not need to make a payment if they maintain their qualified coverage. However, for each month that you or a member of your family is without minimum essential coverage and does not qualify for an exemption, you will need to make an individual shared responsibility payment . If you and your depende