NEWS
Sacred Cows Targeted
Marcia Zarley Taylor DTN Executive Editor
Thu Feb 20, 2014 09:04 AM CST

HADDONFIELD, N.J. (DTN) -- Some of agriculture's most valued sacred cows could fall victim to tax reform legislation about to be debated in Congress.

Cash accounting -- a time-honored method small businesses use to ease their taxes on income they have yet to receive -- could be severely restricted, as well as depreciation schedules on farm equipment and buildings and the use of 1031 tax-deferred exchanges on real estate.

While the objective of such legislation is to simplify the U.S. tax code for the first time since the 1980s, small business owners worry that they may end up footing the ...

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