• Elimination of Certain Co-op Deductions Could Doom Proposed Tax Reform Legislation

    Nov 07, 2017
    Last Thursday Congressman Kevin Brady (R-TX), chairman of the House Ways and Means Committee, introduced a huge tax reform bill he says will simplify the tax code, lower individual rates, and create jobs. The “Tax Cuts and Jobs Act” includes several obvious wins for agriculture including the repeal of the estate tax and maintaining stepped-up basis for the inheritance of farm property, however, there are still questions about how beneficial the tax plan will be for farmers and ag businesses.
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