As a cooperative founded specifically to serve the credit needs of agriculture, commercial fishing and forest products, Farm Credit East is pleased to launch its new advertising campaign, “Made in Agriculture.”
The IRS has provided guidance for taxpayers who wish to either make or revoke an election for bonus depreciation. This relief applies for property acquired after September 27, 2017, and placed in service for the tax year that includes September 28, 2017. The relief also applies to specified plants that are planted or grafted.
One of the most talked about reforms enacted in the Tax Cuts and Jobs Act (TCJA) was the limitation on the ability for taxpayers to deduct state and local taxes in excess of $10,000. Dario Arezzo, Senior Tax Consultant, gives readers insight into how to interpret these regulations.