National Ag News
Tax reform proposals a mixed bag for farmers
Oct 25, 2017, 17:34 PM
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System
A farm business specialist says tax reform changes proposed by President Trump could be a mixed bag for farmers and ranchers.
Tina Barrett with Nebraska Farm Business Inc. says one positive change would be a new tax rate for small businesses.
“They’re talking about capping the maximum rate for business income—so what we get from a Schedule F or from partnership or an S Corp—at 25 percent,” Barrett says. “For a lot of our profitable operations, that would be a huge benefit in knowing that anything that’s going to be on Schedule F is not going to be taxed higher than 25 percent.”
Trump has also proposed eliminating the estate tax.
Continue reading Tax reform proposals a mixed bag for farmers at Brownfield Ag News.
