Highlights of the Tax Cuts and Jobs Act for Agricultural Producers

April 10, 2018 | Kristine Tidgren

grassy field

The Tax Cuts and Jobs Act (TCJA) ushered in the most significant changes to our tax code in more than 30 years. On December 22, 2017, President Trump signed the TCJA into law. Although most changes went into effect January 1, 2018, meaning that they will impact tax returns filed in 2019, most agricultural clients need to understand how the law is impacting them in 2018 so they can make good business decisions in the months ahead. Although many decisions will hinge on IRS guidance that has not yet been issued, much about the law can be understood. This 15-page article provides an overview of key changes implemented by TCJA and how they may impact agricultural producers.