An accountant says the new federal tax law might require changes on the farm to keep from paying too much in taxes. Austin Burby with Clifton-Larson-Allen CPA’s says what’s right for one farm might not work well for another. “Some of the big things are going to be the 20% business income deduction, the 199 cap-A, kind of whatever you want to refer to it as. (As far as) the mechanics of it, there are still a lot of unknowns.”
And, Burby says things like land rental contracts might have to be re-worked.
