The President and leading Tax Reform legislators have announced the first major tax reform package in decades.
AFBF President Zippy Duvall said “Farm Bureau is encouraged to see that this framework includes important principles such as lower tax rates for individuals who own businesses, elimination of the death tax and some business interest deductibility. Farm Bureau looks forward to working with tax writers to refine the proposal to ensure that tax reform lowers effective tax rates for farm and ranch businesses."
We want to hear from you:
If a tax issue is causing an undue burden on your operations, threatening your livelihood, or even making it impossible to hand your farm down to the next generation, please share your story with us.
The most helpful responses will be those that explain the effect tax issues are having on business management, business investment, long-term planning, farm employment, and/or farm succession. The six key tax issues are:
- Deduction for Business Interest
- Like-Kind Exchanges (Sect. 1031)
- Cash Accounting
- Immediate Expensing
- Capital Gains Rates
- Estate Taxes
Join these three Farm Bureau members and share the need for tax reform affecting your farm and ranch.