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Tax Cuts Jobs Act

IRS Issues Guidance for Farmers Choosing Tax Break Under the 2017 Tax-Reform Bill

Business expenses are tax-deductible, or at least they usually are. The Internal Revenue Code (IRC) does not allow the deduction of some business-related expenditures. The Uniform Capitalization (UNICAP) rules, for example, require businesses to capitalize certain expenses, or include them in inventory costs. This can present disadvantages in terms of…

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