For the past 28 years, Farm Credit East has returned a share of its earnings to customers in the form of patronage dividends – a benefit of cooperative ownership. In fact, since the patronage program was first adopted, customer-owners of Farm Credit East (and predecessor cooperatives) have received more than $1.4 billion in dividends from ownership of their cooperative. But what exactly is a patronage dividend?
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Today, we continue the conversation about the New York Farm Overtime Credit by looking at helpful tips and potential pitfalls employers need to understand as they get ready for January 1, 2024.
December 29, 2023
As we look at applicable provisions for the 2023 tax year, two credits we get the most questions about as farm tax preparers are the Solar Energy Property Credit and the Clean Vehicle Energy Credit. Here we focus on these two credits, but also touch on other energy property credits to consider as you ready your 2023 year-end materials for your tax preparer.
December 27, 2023
With 2024 around the corner, New York state farmers need to begin thinking about the Farm Overtime Credit that will provide a refund for hours worked between the thresholds set by the state and 60 hours.
December 05, 2023
In November 2022, Massachusetts voters approved an amendment to the Massachusetts Constitution to impose an additional 4% surtax on the portion of a taxpayer’s taxable income that exceeds $1 million. Shortly after, seven other states introduced their own legislation targeting high-income earners including Connecticut and New York. Here are the details to help your tax planning.
October 31, 2023