Implementing one of the new tax law changes, Section 199a - the 20% Pass-Through, may offer some challenges to tax preparers working with ag producers who qualify both as business owners and co-op members.
If you've inherited or received farmland and want to learn more about the best strategies for managing this asset, you'll appreciate this program from Nebraska Extension. It's being held at 5 sites across the state.
Results from the university’s 2018 Custom Rates Survey indicate rising costs for some custom machine operations and services since the survey was last conducted two years ago. State average labor rates increased 6% to $18.85/hour and average diesel costs increased from $1.68 to $2.46/gallon, which could influence custom rate changes.
With the higher standard deduction and changes in child credits in the new US tax code, taxpayers may need to reconsider how much to withhold for federal taxes in each pay period. Here are information and a tool to help you assess your situation.