DTN Tax Columnist Andy Biebl is a CPA and tax partner with the accounting firm of CliftonLarsonAllen in Minneapolis, Minn., and a national authority on agricultural taxation. To pose questions for upcoming columns, email AskAndy@dtn.com.
President Obama wants to raise tax rates for individuals with $200,000 or more of adjusted gross income, or $250,000 for joint filers. What are the implications for farmers?
If the president gets his way in the "fiscal cliff" negotiations, farmers will be affected like all other individual filers. Income above those levels is presently taxed at rates of 33% and 35%. Under ...