Free legal and financial clinics are being offered for farmers and ranchers at seven sites across the state in April 2020. The clinics are one-on-one meetings with an agricultural law attorney and an agricultural financial counselor.
As experts continue to interpret the new tax code, two things are certain for ag producers: The changes are far reaching and complex and in many cases, will result in a lower tax liability. This overview looks at several of the major changes affecting ag producers.
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.