Crop and livestock cost tracking, Section 179 depreciation, and USDA program income accounting for farming and agricultural operations. Nexus handles both cash-basis and accrual farm financial statements.
Farmers have access to unique tax elections — cash method accounting, Section 179 and bonus depreciation, prepaid expense deductions, and income averaging — that require careful coordination between tax and book accounting.
Farm revenue is subject to commodity price volatility. Hedging with futures and options contracts creates derivative accounting complexity. Without proper accounting treatment, hedge gains and losses distort operating results.
USDA commodity support payments, conservation program payments, and disaster assistance income have specific tax treatment and timing rules. Accounting for these correctly requires knowledge of the programs.
GAAP (for accrual-basis farms)
IRS Schedule F (farm tax accounting)
USDA program rules
Tax vs.
book differences tracked automatically
Equipment depreciation
optimized for Section 179
USDA income
accounted for correctly
See how Plurafi handles your industry's complexity