Farmers, Ranchers Need to Deliver Strong Tax Reform Message To Congress

Farmers, Ranchers Need to Deliver Strong Tax Reform Message To Congress AFBF Press Release Republican congressional leaders, just returning from their month-long August recess, are geared up to revamp and modernize the tax code, making it all the more urgent for farmers and ranchers to share their tax reform priorities with lawmakers…Among farmers’ and ranchers’ top priorities are comprehensive tax reform that helps all farm and ranch businesses; the reduction of combined income and self-employment tax rates to account for any deductions or credits lost; cost-recovery tools like allowing businesses to deduct expenses when incurred; and a continuation of cash accounting, Section 1031 “like-kind exchanges,” and the deduction for state and local taxes. More here