Farm Credit East Senior Tax Consultant, Dario Arezzo, explains the benefit of an Intentionally Defective Grantor Trust for estate planning and generational transfer purposes, as well as the tax implications.
The Employee Retention Credit was created with the passing of the CARES Act. This refundable credit is for operations that have been fully or partially interrupted due to governmental orders regarding COVID-19. Learn more about the guidance and tax implications that come with the credit.
The week of April 20, Congress passed another coronavirus aid package that included $310 billion to replenish the Paycheck Protection Program as well as $50 billion for the Economic Injury Disaster Loans (EIDL) and $10 billion for EIDL grants. See the differences in benefits of these two programs.
In the financial world, your cash position is referred to as liquidity, i.e. your ability to pay your bills. Liquidity is important to any agricultural business, yet it may have a heightened significance depending on what you produce, how long it takes you to produce it and how it’s sold or marketed.