April, 2017
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Only 19 Iowa Counties Likely to Get Corn ARC Payments
We knew that corn ARC-CO payment rates would be down for the 2016 crop year. We now know how much Iowa County numbers will change from the previous two years.
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Fuzzy Details On Trump Tax Plan
President Trump released his tax reform proposal yesterday and as expected the details were very slim. We go over some of the key points.
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Will Farmers See Top 15% Tax Rate Under Tax Reform
President Trump is calling for a top rate of 15% on business income. However, the details are important and we will not know them for several months and in many cases, farmers would see their tax bill go up, not down.
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Why Program Payments Should Not Be Paid Based On Plantings
The last Farm Bill created generic acres. Farmers who can plant peanuts took advantage of this.
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Late Options On Bonus Depreciation Are Available
A farmer may want to change their bonus depreciation after filing their return. it can be done, but it may cost you to do it.
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A Webinar This Thursday
I will be doing an one hour farm tax webinar this Thursday for the University of Arkansas. There is no sign-up required and I will cover general Ag tax law and how tax reform may affect farmers.
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Another Tax Season Comes to an End
Tax season is almost ended. I recap my travels during tax season
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The AICPA Ag Conference Returns Next Year
The AICPA Ag Conference will be held next summer in Las Vegas. Let me know if you plan on attending.
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CLA Testifies at House Ag Committee
Chris Hesse of CLA testified in front of the full House Ag Committee yesterday. He provides a recap of his testimony in Washington DC.
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Large Corporations Pay the Tax Bill (on Audits)
The IRS issues a fact book each year and the latest book has some interesting trends on audits and where they get their money.