Tax bill

[sickdsm]

Been on the phone and in contact with CPA's, my broker, Rep's and Sen. offices. New tax bill has a rediculous loophole. Not sure what to do at this point since it puts me at a serious disadvantage. I assume ST isn't aware of this since its a co-op issue but the new tax bill has a sec. 199a. From what i understand, there is a bonus 20% deduction on individuals selling to a co-op. Not to a private entity though. Up to $200k. Meaning that an operation can sell $1,000,000 worth of grain to a co-op, and have an expense of $800k and have a $0 taxable income. Most of mine goes to a private place and would not be eligible for the deduction. I wouldn't care either way, as long as i am at the same advantage or disadvantage as every one else in my field but its going to make the field uneven according to age mainly IMO. The longer this is dragging on (not getting it changed) the more i hear rumors that its not going to get addressed. Would suggest a note to your senator IMO.

Would hate to see how it affects the private buyer also.


There's been lots of articles on it.