Tim Taschner
speaker
758 appearances
2 recordings
1 series
first heard Feb 2026
last heard 24 Feb
Tim Taschner’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Feb 2026 with 2.
Appearances
But the reason we're talking about this now is the Bush administration in the early 2000s, they updated the rules.
So in 2003, they actually changed the laws and said, instead of doing something new to the industry, if you're doing something new to the taxpayer, you're trying to improve the performance of your product or the yield of your crop, then we'll actually give you a credit on the labor and on the inputs, seed, chem, fert, irrigation that you guys are using.
Yeah, write-off is the wrong term.
I mean, I guess, do you want to speak to the difference between a credit and a deduction and even just start there?
That's probably a good starting point.
Yeah, so your Schedule F, when you go out and you buy a bunch of fertilizer, that's a $100,000 deduction.
And say you're in the 22% tax rate, that's saving you $22,000.
If you've got a $100,000 credit, that is saving you $100,000, whether you use it now.
And here's the most important part for ag because we're cash basis.
Sometimes we double crop.
Sometimes we're prepaid, deferrals, different things like that.
Okay, $100,000 credit.
First thing I'd say if I'm listening to this is I don't pay $100,000 a year in taxes.
You don't have to.
What you do is, one, you can offset tax all the way back to when corn was $7.25 right now.
You can go back to $21 currently.
The second thing with that is each year after you can offset it and it has a 20-year carry forward.
But think of it this way.
How many guys pay money to the bank every single year they're paying interest because they don't want to pay money to the government?
I mean, I can't tell you how many guys I talk to that say, I know how to spend my money better than the government does.
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