Article on highlights impact of proposed tax-law change:

“People have been using the cash method for decades and have made decisions that were based on that method,” says Purdue Ag Economist Freddie Barnard.  “To change it will drastically change the tax liability for a number of operations.”

Per Jeff Wald, CEO at Kennedy & Coe:

“Commodity price volatility may dramatically affect the profitability of farming from year to year,” wrote Wald in a letter to the U.S. House of Representatives earlier this fall. “Cash accounting methods allow operations to compensate for price volatility and create greater financial stability for their businesses.”

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