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President Trump signs spending bill, fixes “grain glitch”

March 26, 2018

By Doug Funke, CPA Partner When the Tax Cuts and Jobs Act was signed into law late 2017, it provided an increased tax benefit to farmers selling commodities to cooperatives over privately-held or investor-owned companies. The anticipated fix to this “grain glitch” was included as a technical correction in the omnibus spending bill signed by President


Tax reform and the art of entity selection

February 12, 2018

By Randy Mihm, CPA, JD, Partner The Tax Cuts and Jobs Act made significant, wide-sweeping changes to the tax code for corporations. C-corporations saw the previous top tax rate of 35 percent cut to a flat 21 percent. Additionally, a new Qualified Business Income (QBI) deduction for S-corporations, partnerships, and sole proprietorships was adopted. This