Farm Income Taxation: Reaping What Good Lobbying Has Sown

Farms are as American as apple pie. Thus, they have become one of American politicians’ favorite businesses. Unsurprisingly, they get tax advantages unavailable to most other businesses. A well-advised farmer should be aware of these advantages, on top of their other governmental subsidies (which have some interplay with farmers’ tax rules). This article gives a…

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The Hazy State of Marijuana Taxation

State-legal marijuana businesses operate in a twilight zone: Legal for state purposes, but illegal for federal. In this gray zone, many tax traps hide, waiting for the unwary. This article will help make you a little more wary. Let’s begin by looking at marijuana businesses from the perspective of the federal income tax system. The…

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Use of DISCs For Export Tax Incentives in Farming

U.S. producers and distributors of goods for export are often advised to consider using an interest charge domestic international sales corporation (the “IC-DISC”). This special entity can give exporters enormous tax savings. Unfortunately, due to their use of cooperatives, farmers have more difficulty using DISCs than other kinds of exporters. While industry representatives are working…

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