Harvesting Hidden Tax Deductions using Section 180
Boa Safra, a company helping farmers maximize tax deductions for recently acquired farmland. Since 2019, they've generated over $500 million in deductions across 40+ states. Learn about their process of soil sampling, nutrient value establishment, and comprehensive reporting. Discover how Boa Safra assists clients in leveraging IRS section 180 for significant tax savings.
Farm4Profit Podcast · Bryce Irlbeck, Tyler Bruch, Boa Safra, Estes Performance Concaves, Todd Dale
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Show Notes
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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Don’t forget to like the podcast on all platforms and leave a review where ever you listen!
Website: www.Farm4Profit.com
Shareable episode link: https://intro-to-farm4profit.simplecast.com
Email address: [email protected]
Call/Text: 515.207.9640
Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw
Follow us on TikTok: https://www.tiktok.com/@farm4profitllc
Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/
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