Farm Tax Webinar – February 7
Just a reminder that CLA will be putting on a tax bill update webinar on February 7. Although we likely will not have final clarity on Section 199A and the cooperative deduction, there are several provisions with impacts to farmers and we will cover all of those plus discuss some of the strategies that makes the most sense under the new tax bill.
Here is a link to register for the webinar.
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
For equipment trades after 9/27/17 and prior to 1/1/18, is the carryover basis from the asset given up eligible for 100% bonus depreciation? Assuming yes, is something to keep in mind when preparing 2017 returns.