The National Cattlemen’s Beef Association released a report analyzing a nationwide tax survey of America’s cattle producers.  With the 2017 Tax Cuts and Jobs Act set to expire at the end of 2025, NCBA wanted to better understand how key tax provisions like Death Tax relief and business deductions impact family-owned cattle operations.  The survey showed producers’ strong support for provisions like the 1031 Like-Kind Exchange, Section 179 Expensing, bonus depreciation, and Section 199A Small Business Deduction. The survey also showed that a quarter of the respondents spend more than $10,000 every year on tax preparation, filing, and potential audits. Those expenses only add to the pressure agricultural operations remain under.

 

“When I was starting in the ranching business, I saw the devastating impact of the Death Tax firsthand,” said NCBA President Mark Eisele. “The tax nearly killed my dream of ranching with my family.”

 

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