Upton Accounting, Inc – James Upton III

Upton Accounting has worked with farm and ag clients since the beginning in 1959. James has owned the firm 2003 and work with about 200 farmers annually on tax planning, return preparation and payroll.

Some specific areas James has provided value to farm clients have been with:

  • utilizing income averaging
  • depreciation planning
  • corrections to depreciation errors
  • working with NOL’s and carryback losses
  • handling the tax consequences of contract buyouts, succession planning, and changing business structure.

We work with individual farmers, farm couples, farm partnerships, LLC’s, and corporations all of which have different nuances. Further we work with active farmers and those who invest in farms or only rent ground.

Our farm experience is primarily in Poultry (broilers, pullets, eggs), Cattle (feedlot, stockers, cow-calf, purebred/AI), Crops (soybeans, grain, tobacco), Tree & Timber Farms, Horticulture/Vineyards, Swine, and Equine activities.

James looks at how much a particular strategy will save, what the long term impact is to the farm, and how it advances the goals of the farmer.