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FINAL TAX BILL A PLUS FOR AG

An across-the-board cut in individual rates and relief for ‘pass-through’ small businesses means the GOP tax bill will leave more money for farmers and ranchers to reinvest and grow their businesses, said Pat Wolff, AFBF tax adviser. The final bill also includes bonus depreciation for new equipment. “There’s going to be full expensing,” Wolff said. “That means that farmers will be able to write off the cost of all their inputs in the year they make them. You write the check, you take the deduction.” (FarmWeekNow.com)

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