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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Trump’s Tax Proposals for the New Year

President-elect Trump has proposed to simplify the tax code after his inauguration in 2017. His tax plan is available on his campaign website, aided by his various statements concerning tax reform which are contained in other press releases. To reduce complexity, Trump would eliminate the personal exemption and head of household filing status. He also…

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Nevada Gross Revenue Tax Client Update

Effective July 1, 2015, in addition to increasing and revising existing taxes, Nevada has implemented a new “annual commerce tax” on “business entities” “engaged in business in Nevada.” The tax is placed on businesses’ Nevada-located annual gross receipts in excess of $4 million. Because it is a gross receipts tax and not an income tax,…

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