Under the Tax Cut and Jobs Act of 2017 (TCJA), there exists a “transition rule” for patron farmers who sold grain, milk, livestock or other commodities to the cooperative(s). This transition rule only applies to producers who sold to a cooperative that has other than a calendar year end. For calendar year end cooperatives, the...

The 2017 Tax Cut and Jobs Act (TCJA) amended the rules for deducting business interest expense (BIE). In general, under the previous law a business could deduct any amounts paid or ac­crued for interest during the tax year. The TCJA added new limits and requires additional compu­tations in determining the amount of deductible business interest...

It has been a memorable and reflective year for the agricultural industry in general, and in particular for cooperatives with the passage of the Tax Cuts and Jobs Act – 2017 and the subsequent Consolidated Appropriations Act – 2018, Section 199A. Many concerns were raised within the agricultural community of the unintended consequences that the...

It’s that time of year when we reflect on what happened over the past year. Depending on where you are geographically, 2018 may be a year that you can’t wait to put in the rear-view mirror (at least I know many of your patrons feel this way). Some areas saw a wet, sometimes snowy spring...

This year started out with a whimper compared to last year’s angst over the roll out of the Tax Cuts and Jobs Act (TCJA), particularly as 199 appeared to be axed and replaced by 199A. That was probably one of the most trying times as we attempted to digest and disseminate information as it was...

Which “Grinch” visited our coop clients this year? The one whose heart grows 3 times? Or the one who stole all the presents? Well, the answer is it will vary! The effects of the new tax law changes are still being contemplated (and debated) and you are likely getting inundated with information from many sources....