taxes

NCBA: We Need Stepped Up Basis To Stay
NCBA: We Need Stepped Up Basis To Stay
NCBA: We Need Stepped Up Basis To Stay
Hundreds of Ag and food groups have written Congress’ two tax-writing committees, arguing against the Administration’s proposals to end stepped-up basis and other farm focused tax breaks. The letter by the nation’s biggest farm and food trade groups comes as House Ways and Means and Senate Finance start to decide the cost and how to fund the Biden Administration’s “American Families Plan.” “327 f
Farm Bureau: Removing Stepped-Up Basis Would Make It Hard For Next Generation Of Farmers
Farm Bureau: Removing Stepped-Up Basis Would Make It Hard For Next Generation Of Farmers
Farm Bureau: Removing Stepped-Up Basis Would Make It Hard For Next Generation Of Farmers
The American Farm Bureau Federation continues to remind lawmakers, and the general population that proposals to eliminate stepped-up basis would have devastating consequences to farmers and ranchers. Farm Bureau member Mike Brundige, a 4th generation farmer from Tennessee, said eliminating the stepped-up basis would prevent him from passing his farm on to the 5th generation ...
May Ag Economy Barometer Tumbles
May Ag Economy Barometer Tumbles
May Ag Economy Barometer Tumbles
The Purdue University/CME Group Ag Economy Barometer tumbled significantly in May, dropping 20 points to an index reading of 158. That marks the lowest point for the survey since September. Producers were less optimistic about both the current conditions and the future of the agricultural economy ...
NCBA Stands Ready to Fight for Sound Tax Policy
NCBA Stands Ready to Fight for Sound Tax Policy
NCBA Stands Ready to Fight for Sound Tax Policy
In his American Families Plan, President Biden targets several provisions of the tax code to raise approximately $1.5 trillion in revenue over the next ten years. The National Cattlemen's Beef Association said those provisions must not burden the nation's farmers and ranchers ...
President Biden’s Tax Proposal Concerning For AFBF
President Biden’s Tax Proposal Concerning For AFBF
President Biden’s Tax Proposal Concerning For AFBF
A trio of new tax hikes for farmers and ranchers, that’s how the American Farm Bureau’s tax adviser describes President Joe Biden proposal to pay for infrastructure and social packages. During last week’s joint session of Congress, the President said: “We’re going to get rid of the loopholes that allow Americans to make more than a million dollars a year, and pay a lower tax rate on their capital
Newton: Without Stepped-Up Basis Farm, Taxes Will Rocket Higher
Newton: Without Stepped-Up Basis Farm, Taxes Will Rocket Higher
Newton: Without Stepped-Up Basis Farm, Taxes Will Rocket Higher
Ask the American Farm Bureau Federation, they’ll tell you a proposal to eliminate the stepped-up basis in agriculture would have a costly impact on farmers nationwide. AFBF chief economist John Newton said tax policy is important in helping farmers pass their operations on to future generations. ...
Oregon Wine Industry Facing Potential 1,700% Tax Increase
Oregon Wine Industry Facing Potential 1,700% Tax Increase
Oregon Wine Industry Facing Potential 1,700% Tax Increase
Lawmakers in Oregon have proposed raising taxes on the wine industry. The increase works out to a 1,700% increase, which comes out to roughly $2.00 per bottle. Elin Miller, with the Oregon Wine Council, said after the challenges of 2020, not only the pandemic, but devastating wildfires and smoke taint, this increase will hit the industry hard ...
AARP: Unemployment Fraud A Concern At Tax Time
AARP: Unemployment Fraud A Concern At Tax Time
AARP: Unemployment Fraud A Concern At Tax Time
It’s tax filing season, which means sorting through forms and paperwork. This year, preparing to file may take an unexpected twist for people who suddenly discover they have a Form 1099-G listing the unemployment benefits they received; only they never applied for or received the benefit. The ...
Wolff Expects Taxes To Be Big Issue In DC In Coming Years
Wolff Expects Taxes To Be Big Issue In DC In Coming Years
Wolff Expects Taxes To Be Big Issue In DC In Coming Years
One of the first questions about a new administration in Washington, D.C., is what changes can the farm community expect when it comes to tax policy? Pat Wolff, Senior Director of Congressional Relations with the American Farm Bureau Federation, said there she expects to see “big tax legislation” fairly soon, maybe in the first six months. “An ...

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