Creating a Simpler Tax Code for Farmers Challenging

Lawmakers in Washington D.C. will tackle simplifying the tax code and that could be good news for farmers, though it is far from a simple process.

The House Ag Committee listened to testimony last week regarding the tax code, though sentiments were similar across the board as expressed by the Farm Bureau’s Patricia Wolff.

“Farmers very much want to lower tax rates and make the code simpler.”

The challenge is that farming is so unique a business that it requires a lot of special provisions, like the fact that so much of their business is done on credit and it can be quite volatile.

One CPA who testified, Chris Hesse, said tax farmers need flexibility, but with flexibility comes complexity.