March, 2017
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Ag Groups Did Not Go Far Enough!
32 farm groups asked Congress to eliminate the estate tax and keep the basis step-up. I think they did not go far enough.
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S Corporation Liquidation
We had a reader respond to our blog post yesterday. We respond to their comment.
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Why Use An LLC?
Many farm operations operate as corporations. In most cases, an LLC may have been the better option.
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Will PLC Have Payment Cap in Next Farm Bill?
There is no payment cap on PLC payments. This has cost FSA about an extra $1 billion for the 2014 and 2015 crop year and with the large expected wheat PLC payments this October it will go higher. Will the next Farm Bill have a cap on these payments?
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Electronic Communications From Cooperatives
As technology advances, the communication of cooperatives to members can get either more complicated or easier.
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Will Net Investment Income Tax Disappear in 2017
The House Republicans released a “manager’s amendment” Monday night that may lead to the repeal of the net investment income tax effective January 1, 2017.
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Social Security – Discounts and Premiums
Farmers many times wonder if they should collect social security at age 62. We are giving you a chart as a reference that may help your decision.
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Don’t Expect Much ARC or PLC Corn or Soybean Payments in 2018/19
Many corn belt farmers will have received close to $200 per acre in corn ARC payments by the end of this year, but don’t expect any over the next two years.
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House Proposes ACA Replacement – A Battle Begins
The House released their long awaited proposal on replacing Obama Care. The battle to get this done is now beginning.
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More IRS Schedule F Audit Activity May be Coming
It appears that the IRS may be ramping audits of farmers especially if they have large amounts of non-farm income.