Publication 225 - Tax guide for farmer’s 2013 returns  

October 16: The IRS posted the final version of Publication 225, Farmer’s Tax Guide, for taxpayer use in preparing 2013 income tax returns.

The IRS publication [PDF 1.55 MB] contains two sections on “what’s new” for 2013 and for 2014. For 2013, these include:

  • Standard mileage rate of 56.5 cents per mile
  • Simplified method for business use of home deduction
  • Increased section 179 expense deduction dollar limit of $500,000 for property placed in service in 2013, subject to a $2 million
  • Extension of special depreciation allowance for certain qualified property acquired after 2007
  • Increase tax rate for the social security part of self-employment tax and increased amount of net self-employment earnings subject to social security
  • New investment income tax (plus the need to include this new tax in calculating estimated tax for 2013)

For more information, contact KPMG’s National Director of Cooperative Tax Services:

David Antoni, in Philadelphia

(267) 256-1627

Or Associate National Director of KPMG’s Cooperative Tax Services

Brett Huston, in Sacramento

(916) 554-1654

©2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International.

KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.

The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Direct comments, including requests for subscriptions, to
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

Share this

Share this


Current and future KPMG clients may subscribe to TaxNewsFlash email alerts.

Email your contact information.

TaxNewsFlash-Cooperatives by year